A Journey to Financial Cyber Risk Quantification, Part 1: The Problem With Standalone Cybersecurity Frameworks
As one of the youngest global industries, cybersecurity presents many challenges. It’s a complex sector with many components to master. Security leaders find fortifying an organization’s security measures tough. This obstacle is made even greater by the quickly evolving threat landscape. Another tricky hurdle is communicating and justifying their actions to the boardroom.
During my time at Avid, I often faced the ladder challenge. Avid is a software company offering media creators easy-to-use digital solutions. Despite implementing a mature cyber risk management program, the boardroom was still hard to prepare for. These experienced corporate business leaders didn’t have the experience that would generate context for my summaries or requests. They understood the importance but didn’t have the value context of having strong cybersecurity measures.
After getting through yet another difficult board meeting preparation cycle, I decided to explore financial cyber risk quantification tools. I wanted to know how quantification could help me in the…
