While executives and boards once viewed cybersecurity as a primarily technical concern, many now recognize it as a major business issue. Any organization that fails to protect its sensitive digital assets from today’s increasingly sophisticated cyberthreats stands to pay a high price. A single serious data breach could result in debilitating operational disruptions, financial losses, reputational damage and regulatory penalties.
Ultimately, business leaders can no longer afford to view cyber-risk in isolation, and neither can CISOs. Rather they should contextualize security initiatives within the broader, organization-wide framework of enterprise risk management. Doing so can help CISOs come to more effective, business-driven decisions that make sense in the big picture.
Enterprise risk management vs. cybersecurity
Cybersecurity and risk management have distinct scopes but significant overlap. Cybersecurity primarily focuses on the protection of digital assets — such as information systems, networks and data — from unauthorized access, disruption or theft. It centers on the technical controls, policies and procedures that mitigate cyber-risks.
Enterprise risk…
