The rise of cybercrime is relentless, with 2.39 million instances reported across UK businesses in the last year. The UK’s National Cyber Security Centre warns that the commercial hacking tools and services market will expand in the next five years, leading to more victims and an unpredictable threat landscape. Chief Information Security Officers (CISOs) are under pressure to safeguard their organizations amidst this growing threat. However, lack of board support, underwhelming technology, and insufficient funding make their job even more challenging. Over 25% of UK CISOs feel overwhelmed when managing a cybersecurity incident.
The role of a CISO is stressful, balancing the responsibility of combating threats and advocating for cybersecurity at the executive level. 80% of UK CISOs feel mostly or fully accountable when their organization faces a cybersecurity breach. However, cybersecurity is a shared responsibility, and the cost of a breach affects the entire business.
There is often a large discrepancy between what a CISO needs and what the board provides. 36% of UK CISOs find it extremely challenging to get the necessary support, and 34% find the lack of board buy-in a key challenge. To bridge this gap, CISOs and boards should have regular open conversations about cybersecurity, finding a common language to understand and manage cyber risks.
Investing in the right technology is crucial. Currently, siloed security and a lack of advanced, integrated solutions contribute to stress among UK CISOs. 23% of UK CISOs attributed the last major cybersecurity incident they managed to technology not detecting a breach. CISOs must consolidate their security tools to eliminate gaps in the security architecture.
In conclusion, CISOs must ensure they are on the same page as the board members to better understand the security risk the business is facing and what is needed to build a more resilient environment. There is a big opportunity for CISOs who can work well with their board and key decision makers to ensure security continues to be a priority.
Source: Techradar
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