The Different Roles
A Chief Security Officer (CSO) is the top executive with responsibilities covering the entire security needs and challenges of a firm. Additionally, the CSO may oversee the risk management process, implement safeguards, and ensure regulatory compliance.
The Chief Information Security Officer (CISO) role differs from that of a CSO since this position may bear the responsibility for risk assessment, supervising a company’s cybersecurity, as well as structuring security initiatives with security programs and business objectives. Essentially, a CISO must also act as a bridge between corporate boards and the IT security team. Given the increased threats and cyberattacks that are setting new records, the CISO is becoming a more critical and necessary position for many large companies.
A Developing Position
According to a recent survey, the lack of understanding from executive leadership of the role CISOs play in organizations prevents them from articulating critical security priorities. 53% of CISOs say their cybersecurity priorities are not aligned with C-suite leadership and in the United States, only 14% of all CISOs said they sit on a corporate/advisory board. Knowing this, now imagine how it might feel for a highly qualified and experienced Chief Information Security Officer (CISO) to work in a corporate IT security environment where the respect level can appear to be stacked against them.
It seems illogical that many CISOs have very little involvement in risk management since their roles are primarily restricted to operational functions and disaster recovery.As technology evolves and the threat landscape increases, the CISO role is becoming increasingly important and challenging over time. The heightened pressure to live up to executive expectations has 82% of CISOs claiming they feel the need to positively exaggerate their role to their board. Even some 28% of CISOs fear job loss as a result of a cyber attack, along with the expected stress and burnout that comes along with the role.
The Bottom Line: What Gives?
Why are critical security decisions being made without an in-depth understanding of the intricate security risks involved and a clear understanding of a CISO's value? Is it simply a matter of "Don't bother me with those cybersecurity details"?
Regardless of the reason or reasons, the role of the CISO will only continue to grow as cybersecurity costs escalate to record-high levels. The largest problem associated with this position — the lack of seasoned professionals.Spending on cybersecurity is expected to exceed $1.75 trillion within the next 24 months. Furthermore, the shortfall of experienced cybersecurity professionals is predicted to exceed more than 1 million. Cimcor's State of Cybercrime Report digs deeper into what this data truly means and helps illuminate the state of information security. Learn more now.
January 31, 2023