The Cyber Security Review | Wednesday, March 29, 2023
A virtual chief information security officer (vCISO) is a practical option for boosting cybersecurity resilience regardless of your company's size, resources, or cybersecurity challenges.
FREMONT, CA: Businesses worldwide are opening themselves up to various cybercrimes as they increase their reliance on technology. These crimes include cyberattacks, CEO fraud via business email compromise (BEC) assaults, intellectual property theft, privacy breaches, etc. Threat actors are constantly stepping up their game, making cyberattacks more dangerous yearly.
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A lack of understanding of risk exposure and resilience levels is one of the most significant difficulties businesses face today. Since many C-suite executives aren't security experts, they frequently require an executive-level advisor, such as a chief information security officer (CISO), who can speak the board's language, provide an overview of risks, develop strategic plans, and assist in deploying the appropriate levels of security controls and governance. In such a situation, employing a virtual CISO can be attractive. These are some justifications:
Cost savings over time
Virtual CISOs are considerably less expensive than a typical full-time CISO. Nowadays, the average full-time CISO pay is approximately $584,000. In contrast, a vCISO with comparable qualifications will cost at least 35 to 40 percent less and come with no baggage. vCISOs can be hired hourly on an as-needed basis when you need them most, and you can scale their involvement up or down as your project nears completion or your security posture matures.
Knowledge breadth and depth of skills
Since vCISOs are hired across various enterprises and industries, they are up-to-date on the most recent security best practices. They have extensive expertise in handling a variety of security scenarios. From serving as an interim CISO to chairing a governance panel, from procuring technical security controls to upgrading the security infrastructure, from analyzing risks to developing a cybersecurity strategy, from ongoing risk monitoring to becoming compliant with privacy regulations, from training your security teams to establishing a culture of cybersecurity, and from responding to and recovering from cybersecurity incidents, vCISOs offer expert guidance in a variety of areas.
Rapid Recruitment, Less Turnover
It is challenging to hire and retain cybersecurity professionals. Already, the cybersecurity business faces a severe talent shortage. Hiring a security expert with the necessary experience and leadership abilities is even more difficult. In addition, CISOs are in high demand, and turnover rates are high. According to studies, the average period to acquire a CISO is approximately six months, and CISOs typically leave their employers in less than two years. A vCISO can be recruited and onboarded instantaneously, eliminating the need for HR onboarding, a benefits package, and retention activities, reducing the business impact caused by a departure.
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