How to Raise Cyber Risk Awareness and Management to the C-Suite
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The document discusses the need for the C-suite to prioritize cybersecurity as part of their business strategy, emphasizing that neglecting cybersecurity can lead to severe consequences. It highlights the rising costs associated with cyber breaches and the importance of tracking cyber risks through key performance indicators. Additionally, it suggests adopting a business intelligence approach to improve communication and decision-making about cybersecurity within organizations.
How to Raise Cyber Risk Awareness and Management to the C-Suite
- 1. How to Raise Cyber Risk Awareness and Management to the C-Suite
- 2. Today’s Speakers 2 Jason Polancich Founder & Chief Architect SurfWatch Labs
- 3. Today’s Speakers Chris Broderick President & CEO TerraGo Technologies Company Confidential 3
- 4. Cybersecurity Accountability Has Shifted to the C-Suite 4 “… boards that choose to ignore, or minimize, the importance of cybersecurity oversight responsibility, do so at their own peril.” - Luis A. Aguilar, SEC Commissioner
- 5. Cybersecurity Needs to be Part of the Overall Business Strategy 5 • What cyber events are occurring in our industry? • What Cyber Risk KPI’s should we track? • Are we spending in the right areas? • Have any suppliers been breached recently?
- 6. Cyber Risks Lost in Translation 6 Antivirus Firewalls Citadel Trojan Zeus Man-in-the- Middle IDS/IPS Backoff POS Netflow Analysis Packet Reflection Packet Inspection Malware Detection What does this all mean to the business?
- 7. Cybersecurity Management is Being Elevated in Organizations 7 From Facilities… to Server Rooms… to Board Rooms
- 8. Rising Costs of Insecurity $5.9M is the Average Cost of a Data Breach • Cost/compromised record increased from $188 to $201 • Customer turnover rate increased by 15% 8 Source: 2014 Cost of Data Breach Study: Global Analysis, Ponemon Institute
- 9. Aligning Cybersecurity Spend with Your Cyber Risk Reality 9
- 10. Sound Cybersecurity is a Competitive Advantage 10 69% of US executives are worried that cyber threats will impact growth. — PwC, 17th Annual Global CEO Survey
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- 12. Address Cyber Risks Now, Instead of Responding to Threats 12
- 13. Tracking Cyber Risks as Part of Overall Risk Management • Elevate cybersecurity to higher level discussion and strategy through business intelligence approach • Measure cyber risks through Key Performance Indicators (KPI’s) 13
- 14. Cybersecurity Requirements Being Specified in RFPs 14 Request for Proposal ACME Corp Cybersecurity Practices 1.Describe the safeguards in place to protect customer information. 2.Who has access (physical and/or remote) to systems that house sensitive information? 3.Describe your network segmentation architecture. 4.What policies and controls are in place with regards to laptops and mobile devices? 5.How do you monitor and assess cyber risks? • Customers are concerned about how their sensitive information is safeguarded • Cybersecurity is now an important requirement for winning a contract
- 15. C-Suite Dashboard App Get Instant Visibility of Your Cyber Risk KPI’s •Real-time and trending views of cyber risks and business impacts •Provides easy-to-understand insights for Executives and Boards to make faster, more informed risk management decisions •SaaS-based app ─ easy to access and use in Web Browser and Mobile 15
- 16. Cybersecurity Tips 1. Take a business intelligence approach to understanding and analyzing cybersecurity data 2. Common language among C-Suite and cybersecurity professionals 3. Proactively mitigate cyber risks as opposed to responding to threats 16
- 17. SurfWatch Labs Resources 17 • Download the Whitepaper: How Executives Can Understand Cyber Risks and Ensure Governance http://info.surfwatchlabs.com/cyber-risk-governance • Read an Overview of SurfWatch C-Suite https://www.surfwatchlabs.com/apps/c-suite • Try SurfWatch C-Suite for Free https://www.surfwatchlabs.com/apps/c-suite/new
- 18. Thank You! www.surfwatchlabs.com Follow us at: