In an increasingly digital world, cybersecurity has become a paramount concern for organisations of all sizes.
By Nelesh Baichan, group CISO for Digital Resilience and DSG
Cyber threats are evolving rapidly, encompassing sophisticated attacks like ransomware and phishing, alongside more conventional vulnerabilities in software and hardware. The repercussions of a data breach can be severe, resulting in financial losses, reputational damage, regulatory penalties, and loss of customer trust. Therefore, a robust cybersecurity strategy is essential for protecting sensitive data and ensuring business continuity.
Key elements of cybersecurity include risk assessment, which involves regularly identifying and prioritising risks to information systems; establishing security policies and protocols for data handling, access control, and incident response; and implementing advanced tools for threat detection and response. Additionally, organisations must adhere to compliance and regulatory frameworks to avoid legal penalties and foster stakeholder trust, while continuous employee training creates a culture of security awareness.
In this context, the chief information security officer (CISO) plays a critical role in shaping and enforcing the organisation’s cybersecurity strategy. The CISO is responsible for developing and implementing a comprehensive strategy that aligns with the organisation’s goals and risk appetite, evaluating potential risks, and prioritising them based on business impact.
Even though businesses understand the importance of cybersecurity, they often lack the direction to implement it effectively. A CISO provides that direction by making security an integral part of the company’s overall strategy. For me personally, I bring a structured approach to this challenge. This means not only ensuring that the right technical defences are in place but also fostering a company culture where cybersecurity is part of the business DNA.
Beyond that, CISOs must understand how the different security measures fit together. As part of this, they should be able to guide the company through recovery should a breach occur. That is why business continuity planning, disaster recovery, and incident response are central to any CISO’s responsibilities. When the inevitable happens and a breach occurs, it is the CISO who must lead the charge in getting the company back on its feet.
The arrival of the virtual CISO
At Digital Resilience, we have worked hard to build a focused team that helps businesses enhance their security posture without necessarily employing large, in-house security teams. This is especially relevant in an era where resources are tight, and there is a shortage of cybersecurity expertise globally. Many companies are left with limited technical know-how, which is why we have seen a growing interest in our virtual CISO (vCISO) offering.
We understand that effective communication with executive leadership and the board is essential, as the CISO I convey cybersecurity risks and strategies to prioritise cybersecurity at the highest levels. Additionally, the CISO is tasked with building and maintaining a skilled cybersecurity team, collaborating with other departments to integrate security considerations into all business processes, and staying abreast of emerging threats to adapt strategies accordingly.
For many businesses, hiring a full-time CISO is not feasible. This is particularly true for smaller companies that need cybersecurity expertise but cannot justify the expense of a permanent executive-level employee. In such an environment, the vCISO provides a flexible, cost-effective solution. For our part, we provide the strategic expertise of a CISO on a consultancy basis, allowing our clients to effectively navigate the world of cybersecurity without a permanent hire.
Many companies face the challenge of having limited internal cybersecurity resources. I have spoken with businesses where security is managed by one person, often without any formal security training, in a company with thousands of employees. This is a recipe for disaster.
You cannot expect one person to manage the entire security posture of a large operation effectively. A vCISO step in to fill this gap, providing the necessary expertise and leadership without overwhelming an organisation’s budget.
Overcoming trust concerns
One of the common concerns companies have when considering a vCISO is the issue of trust. A CISO, whether virtual or permanent, is privy to some of the most sensitive and confidential information within a business. The role requires a high level of trust because you are essentially placing the keys to the kingdom in someone else’s hands.
Of course, this is a valid concern. While there are measures like non-disclosure agreements (NDAs) to protect businesses, there is always a degree of risk involved when bringing in external consultants. However, we have found that more businesses are willing to take that leap because the benefits of having an experienced security leader far outweigh the risks.
Moreover, a vCISO provides continuity in a world where turnover in cybersecurity positions is high. Hiring an in-house CISO comes with the risk that the person may leave after two years, taking their expertise with them. With a vCISO, a company is buying into an outcome-driven service model where it can set clear goals and milestones over a set period.
Avoiding tool sprawl
Invariably, companies have built up disparate security ecosystems by continually bolting on new tools and solutions. This patchwork approach creates its own challenges. Security should be about creating a cohesive, well-integrated system that aligns with the company’s broader business strategy. When security is misaligned, it can stifle innovation and growth.
For example, I have seen situations where security controls were so restrictive that they hindered legitimate business activities, such as trading apps that require specific database access. Instead of blindly applying blanket security measures, the CISO’s job is to understand the business’s unique needs and risks, and tailor security strategies accordingly.
An evolving role
As cyber threats continue to evolve thanks to the likes of artificial intelligence, machine learning, and increasingly sophisticated social engineering attacks, the CISO will become more critical. Businesses are realising that security is no longer a standalone department. Instead, it has become an integral part of every aspect of the business whether it is application development, customer data management, or something else entirely.
Security leaders must work hand-in-hand with business leaders to ensure that cybersecurity strategies are aligned with overall business objectives. Without this alignment in place, security measures can become a hindrance rather than an enabler of growth.
I expect the vCISO model to gain more traction as businesses continue to face the dual challenges of growing cyber threats and limited internal resources. For cost-sensitive companies, going the virtual route will become a strategic necessity.