CISOs gaining influence among corporate leadership
The CISO is morphing into a more influential member of corporate leadership as companies around the world are becoming more strategic in how they manage cyber security risk, according to a report from Deloitte Global.
About one third of respondents reported a significant increase in CISOs participating in strategic conversations about technology-related capabilities, the report found. The report is based on a survey of 1,200 cyber decision makers at the director level or above.
One in five respondents said their CISO reports directly to the CEO, a sign of the growing importance of cyber security within companies across the globe. It is still common for security to fall under IT leadership, with more than one-quarter of CISOs reporting to CIOs.
As cyber security concerns grow around the globe, senior executives and board members are looking to the CISO to help shape how companies manage risk and think strategically about growing technology estates.
“The reasoning for the role’s growth is simply that many boards and C-suites now require or need further knowledge into potential threats, security vulnerabilities, risk scenarios, and actions needed for greater resilience,” said Emily Mossburg, Deloitte Global cyber leader over e-mail.
Companies are integrating cyber security concerns into larger technology spending priorities, including digital transformation, IT programmes and cloud investments. As companies become more interconnected with each other, there has been a greater emphasis placed on making sure third party connections are secure.
The role of CISO has taken on heightened importance in recent years under both the EU’s General Data Protection Regulation and, now, the US’ Securities and Exchange Commission’s requirements for companies to disclose material cyber breaches or attacks.
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