LEADERSHIP STRATEGIES FOR KEEPING PACE WITH BUSINESS DEMANDS IN CYBERSECURITY

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KEYINSIGHTS:

• To thrive in the era of digital business, security and risk management leaders must adopt CYBERSECURITY ACCELERATORS.
• Boards are reallocating digital-related budgets from central IT functions to business units, underscoring the need for security leaders to align with     evolving ORGANIZATIONAL STRUCTURES.
• The role of security is increasingly critical in supporting and enabling the organization's DIGITAL AMBITIONS.

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Sit-Down's View From the Board of Directors Survey reveals that 64% of boards have already transformed their business models to embrace a more digital architecture. Among the surveyed boards, 62% emphasized improving customer engagement and loyalty. To gain a competitive edge, SRM leaders should consider the following recommendations.

• Identify critical business units and their corresponding risk appetites. Develop an inventory of the organization's most valuable data and information assets.
• Foster a deep understanding of the organization's business strategy among the entire security team. Encourage the team to create a presentation     showcasing how the security strategy aligns with the organization's strategic objectives.
• Engage with key business stakeholders to understand their priorities in the evolving business landscape.

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• Foster a culture of innovation by organizing "break the rules" meetings, providing a safe space for the security team to challenge established norms and start afresh.
• Enhance business acumen within the security team, enabling them to articulate security controls in terms of business risks, value, and cost, rather than     solely focusing on policies.
• Develop a framework that guides non-security decision makers in making informed and independent information risk decisions.

• Establish a security strategy think tank to explore emerging security threats and technologies, enhancing preparedness and influencing digital decision     making across the organization.
• Adopt a more flexible approach to control selection, shifting from rigid compliance-based mindsets to principles and policies supported by security     services.
• Design a security vision and culture charter created by end-users for end-users, fostering the adoption of desired security behavior norms to mitigate     human-born cyber risks.
• Evaluate the impact of control implementation on the customer and end-user journey, working collaboratively with business units to ensure effective     communication and minimize disruption.

Force multipliers are actions that amplify positive momentum toward desired outcomes. In the realm of cybersecurity, force multipliers can be both internal and external factors that contribute to success. SRM leaders can leverage force multipliers using the following strategies.

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The increasing number of decision-makers involved in information risk management has resulted in a disconnect between security teams and the evolving business landscape. SRM leaders should address constraints that hinder progress using the following strategies.

• Revise existing security roadmaps as needed and terminate initiatives that no longer align with the organization's digital trajectory. Transform the security function into a business-enabling capability by adopting an agile, advisory-centric approach to service delivery.