Executive Summary:
In businesses around the world, a post-pandemic explosion of connectivity has massively expanded digital footprints. Intellectual property, customer data and brand equity are now wrapped in the digital realm. This modernization and digitization has given businesses new opportunities, but has also made them targets for data theft, which directly affects business performance and shareholder value.
Although security teams and chief information security officers are receiving more support than ever before, the CISO is now expected to act as the data custodian, technologist, strategist and business advisor. Considering the number of hats, is your CISO (or are you) a top performer and how can your CISO (or you) get even better when it comes to business risk management?
5 key traits of highly effective CISOs
Certain mentalities, patterns of behavior and ways of doing things differentiate top performers from lower performing peers; A reality that manifests itself in any competitive environment, whether in sports, academia or other areas of the business ecosystem. each of the following are 2X More common in top-performing CISOs than in lower-performing CISOs, on average, according to to analysts.
- Initiating discussions on emerging issues in the industry to stay ahead of the threats. Executing on this means taking a proactive approach to threat management, connecting with stakeholders and being able to speak the language of business.
- Making stakeholders aware of current and possible future risks to the organization. Fostering an environment of risk awareness builds credibility and responsibility. A successful CISO provides stakeholders with metrics and will never hide the truth.
- Proactively developing technologies security. CISOs who focus on emerging risks become key drivers in the journey to security maturity and achieving organizational security goals.
- Maintaining a formal and workable succession plan. Great CISOs align their planning with the needs, mission and aspirations of the larger organization and communicate plans to others.
- Defining appetite for risk through collaboration with senior business decision makers. Two out of three top-performing CISOs meet with business leaders at least once per month. In doing so, leading CISOs manage to carefully balance security needs against business needs.
stress management
The survey results reveal that highly effective CISOs excel at managing stressful situations in the workplace. only 27% Of the top performing CISOs feel bombarded with security alerts, compared to more than 60% of the lowest performing.
To help CISOs perform at a higher level, CISOs should maintain a clear line between work and non-work, set expectations with stakeholders, and automate security tasks whenever possible. Highly stressed CISOs are more likely to make mistakes, take on new opportunities, or move a company around a security incident.
Additional success factors
For a CISO, staying relevant and action-ready means adopting a business mindset. While the new BISO role takes some of the pressure off, a business mindset can help CISOs connect with peers outside of technology teams, and it enables high-level business-focused conversations. CISOs warm themselves into a garden if they are only able to interact with colleagues on a technical level.
Understanding and prioritizing stakeholder agendas and objectives will expand meaningful and productive projects, opportunities and potential for positive impact.
The importance of the team
The success of a CISO also depends on the team surrounding the CISO. A strong CISO will not be afraid to hire people who are more technically competent than them. Instead, a strong CISO will fill the team with great, results-oriented, delivery-driven employees. After that, puzzle pieces will fall into place, and organizations are likely to see desired results.
Measuring CISO effectiveness
B 2023, 30% of a CISO’s effectiveness will also be measured based on his/her ability to generate value for the business. Perceiving and communicating risk in terms of how it can provide competitive advantage, lead to business growth and result in revenue expansion will set the CISO on a path to future success.
For more on highly effective CISOs, check out CyberTalk.org’s past coverage. Finally, for more relevant cybersecurity insights, real-life case studies, and advanced analysis, please sign up for the cybertalk.org newsletter.
