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Question, has the role of the CISO failed? As someone who is and has been in both 1st and 2nd line cyber roles including CISO and Cyber risk………………no the role of the CISO has not failed. Roles don’t fail because of what they are. CISOs fail because the functional requirements of the role have not been accepted by the organisation or leadership team; they are not provided with the tools to do the job; or those in the roles are not appropriate.
The requirements for information and cybersecurity have sat on the corporate margins for years, and for many reasons. It does not mean the role has failed, it means executives have failed to address the problem and support functional requirements, accountabilities and responsibilities of the role. Challenges that are in part will be addressed by ONCD, EU commission and regulators such as the SEC.
The problem for CISOs is they need to be at a level within an organisation to make material decisions and change, given the tools to do the job. Yet they do not have the same professional standing as their peers such as the CFO, General Counsel or Chief Engineer. A CISO of a multi $billion bank is not generally required to have professional qualifications, yet the CFO is required (in many jurisdictions) to be qualified to sign off the accounts. Who carries the biggest risk for the bank?
One suspects the role of the CISO is about to get a jump start, as cyber risk management is now regulated, bringing considerable implications for CISOs and executives. Requiring them to demonstrate oversight and assurance of material cyber risks and material cyber incidents. The role of CISO will change again, as they will be looked upon as an accountable executive for cyber risk management. A change that brings increased legal and compliance exposure along side their peers, as D&O insurance runs for the hills. The role hasn’t failed, organizations have failed to accept the role.
Ted Dziekanowski Rachel V. Rose, JD, MBA
#cybersecurity #cyberrisk #ciso #cyberregulation
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