Paul Ponzeka is the CTO at Abacus Group.
The role of the Chief Information Security Officer (CISO) has matured significantly in recent years, evolving from a purely technical position to a strategic operational agent. Now, more companies are setting aside time during their board meetings to focus on cyber security.
However, while the CISO may be more visible at board level than before, many still struggle to get their cybersecurity message heard and understood at the front table. In fact, a Ponemon Institute study found that only 9% of security leaders feel they are highly effective in communicating cybersecurity risks to the board and other C-level executives, despite Gartner information that highlights the importance of a proactive approach.
No man is to blame here. Many C-suite members lack a solid foundation in technology, making it difficult to understand the metrics presented—and CISOs themselves may have trouble explaining the value and effectiveness of security investments. In addition to frustration, this communication gap threatens the overall security of a business and business attitude.
Without board support and understanding, cybersecurity will not receive the resources or attention it needs, leaving companies vulnerable to security risks that can disrupt business operations and lead to serious financial losses. But how can the CISO help the board connect the dots? The answer lies in using the right data to create compelling narratives, using the ancient art of storytelling to enhance decision-making in the boardroom and secure this critical cyber security acquisition.
The Disconnection
CISOs often face communication challenges at the C-suite table, which sets them apart from their peers. For example, the Chief Financial Officer (CFO) can confidently present a P&L report, knowing that the board will easily understand its meaning. Conversely, the CISO often faces challenges in identifying and understanding his own metrics, particularly from non-technical board members.
Many business executives are still unfamiliar with the concepts and language of technology. Non-technical members of the C-suite can view cybersecurity as a complex and specialized “black box,” preventing them from fully understanding the business-wide implications of certain security decisions. As such, CISOs face an uphill battle when it comes to training.
Now, like SEC Cyber ​​regulations continue to push security oversight and knowledge into the boardroom—and CISOs increasingly face legal liability about their organization’s data breaches—it’s in everyone’s best interest to bridge the communication gap. To most effectively translate cyber to the boardroom, the CISO must tell a strong story that illustrates the potential business consequences of such risks.
For this to happen, CISOs should use business language, not technical jargon. However, they should not underestimate the power of metrics. For example, the right actionable data related to risk management, compliance and incident response can power the storytelling process, aligning cyber risk with the business narrative.
Leverage actionable data and create compelling data stories
CISOs must first ensure they have full visibility and control of the actionable data they need within a simple and intuitive framework. Of course, this requires a certain level of data maturity within the organization. Without the necessary skills, processes and infrastructure to derive valuable insights from data, security leaders will struggle to quantify cyber risks from a business perspective.
There are several steps CISOs can take to strengthen their organization’s data maturity and improve cyber risk analysis. For example, they could partner with trusted external experts, leveraging their expertise, resources and perspectives to enhance data insights and improve the quantification and communication of cyber risks. They can also leverage tools like a service dashboard to help board members understand cybersecurity and compliance risks. The dashboard could provide a holistic view of the organization’s technology platform, integrating data from multiple sources to foster a shared understanding.
With this data maturity, CISOs will need to determine which key cybersecurity metrics most effectively capture different areas of business risk, such as risk exposure, financial impact, reputational concerns, or potential impact on consumer trust. These metrics can be used to create a sliding scale for cyber risk transmission, empowering the dashboard with a clear visual representation to facilitate better decision making.
CISOs should also ensure context when presenting cybersecurity metrics. Providing context to raw security data is increasingly important to make it relevant and understandable to non-security experts. Using data visualization tools and techniques can also help translate data into an easy-to-understand graphical representation of security metrics and their importance.
The art of data-driven cybersecurity storytelling
While data is essential, it cannot provide a complete picture by itself. However, CISOs can use these metrics to create compelling narratives that win over the C-suite. The challenge lies in identifying and communicating the right data that effectively captures and translates the essence of the risk.
To align cybersecurity risks with specific organizational goals and objectives, CISOs should use effective storytelling techniques to convey the potential business consequences of inaction.
They must resist the urge to delve into technical details and instead use data to highlight how cybersecurity risks can (and will) impact customer growth, cost expansion, regulatory compliance, and a wealth of other business factors.
Painting a vivid picture of these consequences will help the board understand the importance of proactive and robust cyber security measures. Story arcs must also be tailored to the unique needs and goals of each business. Therefore, close collaboration between CISOs and other C-level executives will be critical to establishing a shared understanding of the inherent connection between cyber risks and business risks.
Data-driven storytelling has the power to catalyze action and encourage security from the board. By leveraging relevant and compelling data to create powerful cybersecurity narratives, CISOs can effectively communicate the impact of cyber risk on business goals, financial performance and reputation. This will enable security leaders to decisively bridge the gap between what they say and what the C-suite hears, driving force of cooperation between the two sides of the business.
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