CISOs carry the responsibility to explain the rest of the C-Suite that cyber-risks are not different from business risks and find quantified ways to prove that
There is a need for leadership executives to consider cyber-risk as another business risk because this lack of alignment is fast becoming one of the biggest causes of misalignment between the C-suite, the CISO, and the board. Another facet of the issue is also that many processes and tools used to manage and measure the business risk today have been in use much before cyber-risk became an issue.
Adding to the complications is the siloed structure of security functions where most resources have very little exposure to the other areas of business, and much less – business risk. Regardless of the reason due to which the misalignment exists, it proved to be problematic.
These days, business risks are not separate from cyber-risks. In fact, cyber-security threats are a key part of business risks- given that they can cause downtime, loss of brand image and thus business disruptions. Managing business risk effectively is only possible when cyber-threats are also accounted for and are aligned. Experts have observed that many…
