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Cyberattacks increased significantly in 2024, with over 1,800 businesses being attacked each week. Every company must be concerned about these threats and take proactive measures to safeguard its sensitive data. A robust plan is needed to ensure the highest level of protection.
Business owners are increasing their cybersecurity funding to account for the increased tasks. They recognize cybersecurity management is an essential part of their business strategy. These organizations appoint a chief information security officer (CISO) to develop and implement the plan.
What is Cybersecurity Management?
Businesses today have complex IT infrastructures that often combine on-premises and cloud components. Remote workers may log into the system from home or any other location, adding more potential attack vectors that cybercriminals can exploit. The CISO creates and implements a security strategy to safeguard the organization’s data.
This strategy must address multiple components. It must ensure the primary security infrastructure remains protected and assess new services as they are added to ensure they are secure. When the company makes changes to its infrastructure, the CISO ensures that the right balance is struck between stability and flexibility. They are also responsible for ensuring that employees are familiar with security best practices.
In the event of an incident, the CISO oversees the response. They work with employees to identify and resolve the issue promptly, thereby mitigating the damage. This individual also collaborates with senior leaders to refine the organization’s cybersecurity strategy as it continues to expand.
Why Is Cybersecurity Management Essential?
Cybersecurity is now a top global concern. Business owners worry about an attack because the average response cost is $4.81 million, according to IBM. An attack may go undetected for months, with credential-based attacks being the hardest to identify and resolve. Companies must be aware of extortion and espionage attacks, as these, along with other cyberattacks, can lead to reputational damage. Cybersecurity management is essential for business stability.
The Role of the CISO
The chief information security officer is tasked with preventing cyberattacks before they occur. To do so, they must collaborate with all departments within the organization. Doing so ensures all needs are addressed. Ongoing communication is essential to a successful plan.
The CISO handles all data governance tasks and establishes frameworks for risk management. They also ensure the organization complies with all applicable laws and regulations. This individual establishes an internal controls framework for data security management implementation and oversees the technology and best practices used within the framework. Their duties include implementing audit programs to identify problems early.
A CISO must possess a solid understanding of technology to address cybersecurity issues effectively. They need to establish a cybersecurity culture to protect the company’s data. This professional is also responsible for cybersecurity strategic planning and financial matters.
Companies today need chief information security officers to protect the data they collect. Individuals in this role earn hundreds of thousands of dollars each year as they remain in high demand. They must possess a thorough understanding of the cybersecurity sector and have essential soft skills, such as effective communication, to provide the highest level of protection. With the help of this professional, a business can protect its data from unauthorized access and use, thereby reducing the risk of hefty fines, costly penalties, and customer loss. However, they must be certified to provide the best outcomes, as clients deserve nothing less.