If you take a look inside today’s C-Suite, you may see something that looks very different than as little as five years ago. Fueled largely by the proliferation of data and the rapid adoption of enterprise data analytics, we are witnessing a shake-up of executive roles and responsibilities in the C-Suite. While the more traditional roles of Chief Executive Officer, Chief Operating Officer, and Chief Financial Officers remain in place, they are now joined by Chief Data Officers, Chief Customer Officers, Chief People Officers, Chief Diversity Officers, and more.
While the titles and mix of responsibilities may vary, the change occurring in today’s C-Suite is here to stay with new roles emerging every day as business needs and models change. A recent Techcrunch article examines this topic, including the increasing cybersecurity needs of companies and the rising importance of another relatively new C-Level role: The Chief Information and Security Officer (CISO). According to the article, “…chief information security officers (CISOs) in the C-Suite will be just as common and influential as CFOs in maximizing shareholder value.”
But, beyond the obvious, what does the CISO role specifically do for companies?
In addition to the role of protecting company data, today’s CISOs are often required to protect a whole lot more, including the company’s reputation and relationships with customers. The Techcrunch article points to a recent security breach suffered by a leading global financial institution. While the actual breach resulted in the theft of millions of dollars, the lost business due to a lack of customer trust and security could have cost the company billions more. As a result, the organization’s newly-hired CISO not only addressed the reason for the security breach but spent the first three months on the job traveling to the company’s largest customers to reassure them personally that their assets were safe.
Safely setting up businesses for remote work, accelerated by the recent pandemic, is another area where CISOs have played a critical role within the company beyond data security. As the pandemic hit, CISOs were forced to face many new challenges to keep companies securely up and running with a completely distributed workforce. Suddenly, CISOs found themselves providing value in a variety of new ways, including helping organizations implement new ways of working.
According to the article, “Bringing the CISO into the C-suite and into company strategy makes us better and more resilient across all parts of an organization.”
If you’d like to learn more, you can read the complete Techcrunch article.