CEO Woes: Cyber security and the bottom line

There will be two types of CEOs and directors in the future:

• Those who are aware of the latest cyber security threats, and
• Those who no longer have a business to run.

Keeping a company afloat is, conceivably, the number one concern of a Chief Executive Officer.  Business continuity and recovery plans need to be regularly aligned with the current threat landscape.  This includes cyber security awareness beyond technical implementation; having decision-makers get on-board with what needs to be changed.

When an attack happens, the data of customers, partners and employees are compromised to a point where quick action needs to be drawn from the accessible organisational policy.  An attacker may reduce or stop business availability altogether, irreparably affecting a brand’s reputation.

Having an in-house expert or team on board that focuses on cyber threat awareness might be a CEO’s best next decision.  Criminals are more sophisticated today than ever, shifting focus to data sources rather than networks.  At the very minimum, these teams will need to:

• Actively research new threats.
• Continually produce risk and threat assessments.
• Keep updated recovery plans accessible to everyone.
• Facilitate communication between concerned stakeholders and partners.

Security awareness must be integrated into every department and be the basis of every decision made; extending beyond the IT part of the business.  There’s no doubt about it: companies that see cyber safety holistically and an organisation-wide issue are those who will survive into the next decade.

If you’re a CEO or have influence in your company, what steps should you take today?  The United States Computer Emergency Readiness Team have a useful questionnaire with recommendations.