An article by Joan Goodchild, for CIO.com suggested that organizations with a chief information security officer (CISO) experienced a reduction in the overall cost of data breaches. This conclusion emerged from a study completed by Ponemon Institue in Michigan, in which 40 percent of the companies surveyed had a CISO managing data breach incidents.
The support behind this reasoning stems from the idea that the CISO has more a strategic view to protect data as stated in the article by Phillip Dunkelberger, president and CEO of PGP Corp. He also states, “CISO involvement at a higher level means less cost of a data breach and less chance of repeating it because of the strategic view of protecting it that these professional take.”
Goodchild also points out other findings from the study including that data breaches are more costly when involving malicious or criminal acts as well as when third party offshore parties with outsourced data.
What are effective traits of a CISO?
According to Networkworld.com’s “The do’s and don’ts of an effective CISO” a CISO should exhibit the following characteristics:
-Good understanding of business principles.
-Talks business language (a translator).
-Aligns security posture with business strategy.
-Sensitive to organization’s risk appetite.
-Willing to take responsibility.
-Gets fundamentals dealt with first.
-Talks risk
IMF Related Report:
“From CISO to CIO” by Lou Magnotti, Chief Information Officer at the U.S. House of Representatives
“I think from a security person standpoint to executive management, you need to be able to communicate in layman’s terminology. This is the hardest and most important trait a security professional can possess.” -Lou Magnotti, U.S. House of Representatives
At the IMF October IT Security Forum, Louis Magnotti, Chief Information Officer of the U.S. House of Representatives, discussed his own career development and the steps and best practices that have made him the successful IT Executive he is today. He outlines the building blocks that allowed him a successful career in Information Technology which includes time at the Department of Defense 9 years as CISO, and since November 2008, as CIO of one of the nation’s oldest institutions, the U.S. House of Representatives. In describing his career progression Magnotti states, “My career has kind of been like a trip without luggage. I sort of knew where I was going, but when I got there, my stuff wasn’t with me.”
Does having a CISO in your organization help to reduce costs? Tell us on Twitter via ITInfoForum
Effects of the recession are still very much prevalent as the IT industry continues to consolidate. In an article for Information Week, Rob Preston points out that as the industry continues to mature that innovation should not be forgotten. This sentiment is also expressed by his colleague Bob Evans who states that solutions from unconventional vendors can “help spark a breakthrough” for business technology organizations. .gif)
