Increased instances of cyberbreaches and threats to cybersecurity have prompted many organizations to hire a Chief Information Security Officer (CISO) to oversee and implement security measures to prevent these incidents. However, adding a new c-level executive to the team can be a costly expense that many organizations hesitate to take on. So how do you know when it is time for your organization to hire a CISO? Here are ten reasons your business needs a CISO:
1. Your company handles sensitive information.
Any company that digitally stores or utilizes information such as credit card numbers, social security numbers, medical records, etc. needs the ability to ensure its customers that their data is safe and secure with them.
2. You outsource your IT or use third-party vendors for some of your IT needs.
The vendors you use may or may not prioritize security, regardless of the claims they make about their security. A CISO will check the security practices of your vendors and ensure that they comply with the security standards required by your organization.
3. You partner with other companies who have access to your data or network.
A CISO conducts the same security evaluation of your business partners as he or she does with your third-party vendors.
4. Other businesses depend on you to keep their information secured.
Just as you expect organizations you partner with to protect your data, those that trust you with their information also expect you to protect that information. By ensuring that your organization’s data is secure, a CISO also protects that of other organizations depending on you.
5. You operate in a highly regulated industry.
Industries such as healthcare or finance have more stringent regulations placed on their data-handling practices due to the highly-sensitive information collected in those fields. A breach in one of these industries comes with additional fines and costs that could be prevented by being proactive and hiring a CISO.
6. You have outdated or inadequate security policies or practices.
Technology and the methods used by cybercriminals evolve rapidly. A CISO will make sure your security stays up to date.
7. Your company has no existing incident-response plan.
Although a CISO and other security measures greatly reduce the risk of a breach, they cannot completely eliminate threats. Having a response plan is crucial to recovering from a breach. A CISO will create an incidence response plan and make sure all employees are educated on the plan.
8. You have a small or over-worked IT department.
While your IT department works hard and serves as an essential line of defense against cybercriminals, with all their other responsibility maintaining your organization’s IT functionality, they may not have enough time to devote to security.
9. You do not know where your organization stands on security.
If you are unsure of your organization’s level of vulnerability to cyberattack, you need a CISO to evaluate your risks and help resolve any holes in your security.
10. Your organization has recently experienced a breach.
Being breached can be a sign that your company needs to take more measures to ensure cybersecurity. Hiring a CISO would be an excellent place to start.
If your business falls into any of the above categories, then your organization might consider hiring a CISO or employing a virtual CISO (vCISO) who can offer the same benefits but can be significantly less expensive than a traditional CISO. Find out more about the ThreatAdvice vCISO solution from NXTsoft.