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