SibylSoft’s Post

Is it Time to Split the CISO Role? I came across an insightful article on CSO Online discussing the evolving role of the CISO, exploring the idea of splitting the role into two distinct positions: one focused on technical security and the other on risk management. 🔍 Key Takeaways: - CSTO (Chief Technology Security Officer) reporting to CIO: Focuses on operational security, incident response, and technical defences. - Risk Leader / CISO reporting to CEO: Concentrates on aligning security initiatives with business objectives, regulatory compliance, and overall risk management. Adapting leadership structures is crucial in today's evolving cybersecurity landscape to ensure both technical and strategic security aspects are effectively addressed. At Bitsight, we understand the significance of these roles, offering solutions that provide technical insights and comprehensive risk management capabilities. Our platform empowers technical CISOs to enhance operational defenses and enables risk leaders to make informed, data-driven decisions aligned with business goals. Read the full article here: Is it Time to Split the CISO Role?

🌟 Unlocking Value Through Strategic Risk Management 🌟 In today’s dynamic landscape, boards can drive resilience and opportunity by managing risk more holistically. Here’s how private company boards can step up: ▶ Enhance Governance Agility: Hold more frequent meetings, create committees for key risks (e.g., cybersecurity), and keep open dialogue with executives. ▶ Broaden Risk Oversight: Address all risk types—compliance, geopolitical, talent, and tech—and use scenario planning to identify vulnerabilities. ▶ Strengthen Talent Strategy: Provide insights on employer brand, retention, and motivation to mitigate workforce risks. ▶ Run Crisis Simulations: Test response plans for scenarios like ransomware or geopolitical crises to identify operational gaps. ▶ Add Specialized Expertise: Bring in board members with deep knowledge in areas like cyber, global policy, or workforce management. By evolving governance and expertise, boards can turn risk management into a strategic advantage. #RiskManagement #BoardLeadership #Governance #Resilience

While CIOs and CISOs have become strategic business enablers, cybersecurity and IT often remain siloed, leading to gaps in risk management. Aligning IT and cybersecurity is essential for achieving true business alignment. By leveraging frameworks like FAIR and TBM, businesses can quantify cyber risks in financial terms, making them understandable and actionable for all stakeholders. SAFE Security’s unified platform bridges these silos, integrating first- and third-party risk management to provide comprehensive risk visibility. With organizations like ADP and GSK leading the way, this approach strengthens risk posture, enhances stakeholder communication, and drives business value. #cybersecurity #riskmanagement #businessalignment #FAIR #TBM

Effective cyber risk management starts with quantification. By defining Breach Risk as the product of Breach Likelihood and Breach Impact, organizations can better understand and manage cyber vulnerabilities. So, 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭𝐬 𝐨𝐟 𝐑𝐢𝐬𝐤 𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭? → Identify and prioritize critical assets based on business impact and contextual properties. → Operational downtime, data recovery, legal repercussions, and regulatory fines. → Loss of reputation, customer churn, market value decline, and missed business opportunities. Now the question arise → 𝐇𝐨𝐰 𝐭𝐨 𝐐𝐮𝐚𝐧𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤𝐬? → 𝐅𝐀𝐈𝐑 (𝐅𝐚𝐜𝐭𝐨𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐑𝐢𝐬𝐤) Provides estimates using Monte Carlo simulations to predict the probable frequency and magnitude of potential losses, delivering risk exposure in dollar values. → 𝐃𝐑𝐄𝐀𝐃 𝐌𝐨𝐝𝐞𝐥 𝐒𝐜𝐨𝐫𝐢𝐧𝐠:  Scores risks as Low (5-7), Medium (7-11), or High (12-15) to prioritize action. And 𝐖𝐡𝐚𝐭 𝐬𝐡𝐨𝐮𝐥𝐝 𝐛𝐞 𝐭𝐡𝐞 𝐊𝐞𝐲 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐌𝐞𝐭𝐫𝐢𝐜𝐬? → 𝐓𝐢𝐦𝐞-𝐁𝐚𝐬𝐞𝐝 𝐌𝐞𝐭𝐫𝐢𝐜𝐬 Track mean time to detect (MTTD), respond (MTTR), and failures (MTBF). → Operational Metrics Annual Loss Expectancy (ALE), incident frequency, vulnerability scores, and patch effectiveness provide critical insights. 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐁𝐞𝐬𝐭 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬 𝐭𝐨 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭 𝐐𝐮𝐚𝐧𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐂𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲? → 𝐏𝐫𝐢𝐨𝐫𝐢𝐭𝐢𝐳𝐞 𝐑𝐢𝐬𝐤𝐬 𝐛𝐲 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐈𝐦𝐩𝐚𝐜𝐭 Allocate resources based on potential financial losses. → 𝐔𝐩𝐝𝐚𝐭𝐞 𝐑𝐢𝐬𝐤 𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭𝐬 𝐑𝐞𝐠𝐮𝐥𝐚𝐫𝐥𝐲 Incorporate advanced analytics, AI, and an incident response plan to stay resilient. A quantified approach to cyber risk enables data-driven security investment, streamlines stakeholder communication, ensures regulatory compliance, and helps optimize resources. Ready to make cyber risk management proactive? Explore with Whitehats how you can quantify and mitigate your risks effectively! #CyberSecurity #RiskManagement #DataProtection #datasecurity

"The security debt in legacy systems created back then is part of the reason why there is a new breach in the news every week now." Powerful insight from Paul Connelly, NACD-DC on why "risk acceptance" shouldn't be a rubber stamp. Today's mature organizations need thoughtful discussions about risk appetite, clear accountability, and partnership between security teams and business units from day one. Read Paul's full take on building a responsible approach to cyber risk management: https://lnkd.in/e7bU2rtJ #Cybersecurity #RiskManagement #Leadership #Security

Great recommendation from Gartner on Cybersecurity in recent security risk & management event. CISOs must embrace a “Minimum Effective” mindset to maximize the impact of cybersecurity for the business. This mindset promotes the delivery of maximum impact.   With this, they bust the following 4 myths in Cybersecurity, and recommend the approach organizations should take in Cybersecurity. Myth1: More risk analysis equals better protection  In reality, more risk analysis equals maximum effort and burn out your cybersecurity team and leadership. So, embrace “Minimum Effective Insight”.   Use Gartner Outcome-Driven Metrics –ODMs that provide minimum effective insight to support business driven decisions and investments. More on ODM will be covered later.   Myth2: More tools equals better protection   CISOs often get stuck in a gear acquisition mindset when they truly need to focus on adopting a “Minimum Effective Toolset”. Myth3: More cybersecurity professionals equals better protection   Develop a “Minimum Effective Expertise” which involves providing employees with the necessary expertise and technology to enable them to make risk-informed decisions independently.   Myth4: More control equals better protection.   CISOs must adopt a “Minimum Effective Friction” approach to balancing controls, minimizing the friction on user experience and productivity.    #GartnerSEC

"However, there are numerous challenges in splitting security roles, particularly around accountability. Separating responsibilities across multiple roles could make it less clear who is ultimately accountable for overall cybersecurity risk management and outcomes. Additionally, if operational security controls are separated from governance and risk management, it may be difficult to ensure proper accountability across both functions." 😳 Wow, just wow !! 😲 Accountability is key here, as is general Risk Appetite and who governs and owns Risk Acceptance levels ?!? 🤔 No matter what, if the CISO roll is only seen as an advisor and not an authority, then someone else has to accept the risk of non-action (like neglected lifecycle management 🙉🙈🙊) Most security risks boil down to who holds the purse strings and decides whether an investment is worthwhile or not in mitigating the risk factor!! 💰🤑 Great read ! 📖 Definitely food for thought 👍🏻 Stay Vigilant and Keep Safe!! 😷 #riskappetie #riskaversion #accountability https://lnkd.in/ewgb_5xd

Rethinking Third-Party Risk Management: From One-Time Audits to Continuous Collaboration Managing third-party risk is no longer about one-off audits or passive oversight. It requires a collaborative approach that involves transparency, proactive governance, and shared responsibility. With emerging regulations and the complexity of fourth- and fifth-party vendors, organizations must prioritize continuous improvement over static processes. Grouping vendors by criticality, creating tailored governance plans, and establishing clear contractual obligations—including secure exit strategies—are essential steps to secure partnerships. By fostering cross-functional collaboration among IT, security, and business teams, organizations can shift from reactive measures to a culture of shared responsibility. This not only strengthens vendor oversight but also ensures agility in mitigating risks while building trust across the supply chain. The focus must be on fostering partnerships with vendors through trust, transparency, and mutual accountability, creating a resilient defense against evolving cyber threats. A shift to transparent partnerships and shared threat data / intelligence fosters trust and agility, creating a proactive culture that mitigates risks across increasingly complex supply chains. Please feel free to share your thoughts / questions. #CyberSecurity #ThirdPartyRisk #Collaboration #Governance #ThreatIntelligence #SupplyChainResilience #DataSecurity #TPRM

#cybersecurity #riskmanagement "Managing cyber risks is an essential element of good governance. Threats such as data theft, extortion and cyber-related operational disruption are increasing in Australia and globally, creating financial, legal, operational, and reputational impacts on business, government, not-for-profits, and individuals. The increased impact and urgency of cyber threats has also elicited a regulatory response and regulatory priorities in the areas of privacy legislation, critical infrastructure, and enforcement. Globally, ‘cyber insecurity’ remains a top-five risk in the World Economic Forum’s Global Risk Report 2024.2 The average annual cost of cybercrime is expected to increase from $8.4 trillion in 2022 to more than $23 trillion in 2027, with the Asia-Pacific region experiencing a huge increase in cyberattacks compared to its global counterparts.3 Several factors are driving an increased volume and sophistication of cyber-attacks. The increased uptake of remote work during the COVID pandemic and the continuation of hybrid working in many organisations, increasing uptake of collaboration platforms and tools such as video conferencing, cloud storage and file-sharing is rapidly shifting the boundaries of organisations’ attack ‘surface’ that needs to be protected. With increasing risks and incidents there is a growing recognition that cyber risks are business risks, and all leaders need to understand the cyber risk landscape. Cyber risk management is now everyone’s business. " https://buff.ly/3AmTdeF #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse

#cybersecurity #riskmanagement "Managing cyber risks is an essential element of good governance. Threats such as data theft, extortion and cyber-related operational disruption are increasing in Australia and globally, creating financial, legal, operational, and reputational impacts on business, government, not-for-profits, and individuals. The increased impact and urgency of cyber threats has also elicited a regulatory response and regulatory priorities in the areas of privacy legislation, critical infrastructure, and enforcement. Globally, ‘cyber insecurity’ remains a top-five risk in the World Economic Forum’s Global Risk Report 2024.2 The average annual cost of cybercrime is expected to increase from $8.4 trillion in 2022 to more than $23 trillion in 2027, with the Asia-Pacific region experiencing a huge increase in cyberattacks compared to its global counterparts.3 Several factors are driving an increased volume and sophistication of cyber-attacks. The increased uptake of remote work during the COVID pandemic and the continuation of hybrid working in many organisations, increasing uptake of collaboration platforms and tools such as video conferencing, cloud storage and file-sharing is rapidly shifting the boundaries of organisations’ attack ‘surface’ that needs to be protected. With increasing risks and incidents there is a growing recognition that cyber risks are business risks, and all leaders need to understand the cyber risk landscape. Cyber risk management is now everyone’s business. " https://buff.ly/3AmTdeF #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse