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Today's challenging reality presents an opportunity for CISO’s to reevaluate the economics and efficiencies of their current infosec program. To do so, CISO’s must narrow their focus on maximizing their return on investments and shift to a risk-based prioritization strategy. No matter the situation, CISO’s are always expected to meet goals and drive results. Even though security professionals cannot reduce risk to zero, they can reduce risk significantly by first eliminating the most impactful risks facing their organization.  Below, I discuss the four critical steps of leading an economical and efficient information security program while following a risk-based approach.

Before COVID, cybersecurity was a concern for businesses everywhere. In fact, in Microsoft’s 2019 Global Risk Perception Survey, 57 percent of companies ranked cybersecurity as a higher risk than economic uncertainty and brand reputation or damage. Looking ahead, what does all of this mean for the role of the Chief Information Security Officer (CISO)? Not only is it more important than ever before, but the role has shifted since the start of COVID.

As the financial services industry moves toward an ever-greater dependence on technology, we must always keep an eye on the future to ensure that any new technological advancement or implementation delivers the same, if not better, benefits and risk management capabilities. One emerging area that has garnered a lot of attention in recent years is Distributed Ledger Technology (DLT). While DLT holds great promise, there is currently no clear path around how to implement the technology in a way that addresses documented and evolving security risks.  

Evacuations and lockdowns are two events no organization wants to face, but every organization should be prepared for. They often happen in response to particularly dangerous situations that pose an immediate threat to people and property. It can be difficult to know how and when to make the decision to lockdown or evacuate, and it can be even more difficult to manage once the decision has been made. In either case, it requires organizations plan, test and have the right tools in place to reach all of their people quickly with information on what actions they should take to stay safe.