Research Highlights

  • 24%
    Business leaders assert that the person with responsibility for cybersecurity sits on their board1
  • 44%
    Large-sized enterprises cited Internet of Things (IoT) technologies as having the most potential to disrupt IT risk management programs in the next three years2
  • 27%
    Business leaders are very comfortable that the board is getting adequate reporting on cyber and privacy risk management metrics3

[1] EY’s 20th Global Information Security Survey 2017–18, [2] MetricStream Research’s “Moving Up the IT Risk Management Maturity Curve”, [3] PwC’s The journey to digital trust 2018

Key Objectives

As organizations go digital, Chief Information Security Officers (CISOs) are expected to ensure that data and strategic assets such as corporate websites and customer information are secure and always available. They are also expected to provide assurance to the management and board that IT assets and information are being managed in line with risk appetites and thresholds, as well as applicable regulatory mandates. The focus is on preserving digital integrity and protecting the organization’s brand and reputation.

To achieve these objectives, CISOs need to have effective IT risk and compliance management programs, backed by robust technology solutions. They also need to ensure that their organization’s IT risk, compliance, and control environment is constantly assessed and fortified with effective technological and functional measures. Given the plethora of asset classes and technologies that have to be managed, CISOs would do well to optimize and prioritize risk mitigation measures and investments in line with their organization’s strategic goals.

To build a successful IT risk and compliance management program, CISOs first need to align the objectives of the program to their organization’s larger corporate and performance objectives. They also need to have an IT risk management technology and process framework that strengthens the confidence of the management and board. A truly effective framework is one that allows IT security teams to optimize efficiency by harmonizing control assessments and vulnerability remediation processes. It also accelerates decision-making by providing timely insights and intelligence on IT risks and security.

Measurable Outcome

Reduce compliance violations, penalties, and the risks of reputational damage

Lower the cost of IT incidents, and minimize business disruptions

Prioritize technology investments to focus on the most critical IT risks impacting organizational goals

Build confidence with the leadership team, board, and regulators by demonstrating a mature and agile IT governance program

MetricStream Solutions Can Help

  • Gain a real-time, enterprise-wide view of the IT governance program

    • Provide insights and metrics to senior management and the board on the organization’s IT risk and compliance posture and its impact on business objectives

    • Align strategic frameworks with IT risk management to ensure that priorities and investments are focused on the right business objectives
  • Adopt a holistic approach to IT governance

    • Gain visibility into the relationships across the IT compliance and risk universe, thereby improving synergies

    • Harmonize IT controls, policies, and vulnerability remediation actions
  • Strengthen collaboration and coordination across the organization

    • Efficiently allocate IT governance tasks and activities with clear lines of accountability

    • Avoid duplication and delays in effort by identifying specific owners and approvers for each activity across the organization
  • Implement a robust IT regulatory change management process

    • Proactively monitor regulatory changes, and understand their impact on the business

    • Provide actionable intelligence based on past data to accelerate incident management and issue remediation

Learn more about how MetricStream can help CISOs.

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