The Outlook on Cyber Risk for CISOs

  • August 27, 2021
  • Quantivate

Cyber risk exposure is a complex mesh of vulnerabilities that crosses different departments and functions, and the threat it poses to organizational resilience cannot be understated.

The constantly evolving nature of cyber risk and the digital landscape makes assessing cybersecurity critical for CISOs and their teams. However, many organizations fail to understand the serious risk and compliance implications of inadequate cybersecurity management.

Cyber Risk Management Challenges

The challenges of information management and data protection/privacy are growing as CISOs respond to the EU’s GDPR, California’s Consumer Protection Act (CCPA), New York’s Privacy Act (NYPA), and more.

As the regulatory burden continues to grow, organizations will struggle to meet compliance requirements unless their cybersecurity management and monitoring processes are part of an integrated strategy.

Approaching cyber risk and security management from a holistic perspective equips teams to address emerging risks and compliance requirements in a standardized way, especially when supported by an integrated management architecture.

Planning Ahead for Cyber Resilience

To build resilience against cyber threats and strengthen your risk and compliance posture, your organization needs to ensure that its cybersecurity management framework is efficient, effective, and agile. Developing capabilities to evaluate cyber risk and compliance across business functions supports operational resilience and improved visibility for stakeholders.

However, inadequate information security and management processes leave organizations vulnerable to cyber risk exposure. Bolstering your risk awareness and management capabilities requires a solution that can harmonize your organization’s information management processes with regulatory requirements and data protection laws.

An effective IT risk management system helps CISOs and their teams identify, assess, monitor, and manage risks, providing multiple layers of defense. It also accelerates the process of building a consistent, compliant cybersecurity framework.

More on cyber and IT risk management:

Stay up to date with the latest news, compliance alerts, and thought leadership for banks and credit unions: