5 Things CISOs Want CEOs to Know

In a highly digitized business landscape, integrating security into broader business strategies and priorities is more crucial now than ever. For C-suite professionals, especially CIOs, understanding security is vital for protecting the company’s reputation, financial stability, and customer trust. The 2023 Accenture State of Cyber Resilience report reveals that organizations are starting to see cybersecurity as an essential element of transformation efforts. However, there's still progress to be made, as only 53% of leaders agree with this statement. This gap highlights the need for leaders across organizations to prioritize security in their strategic initiatives and work closely with CISOs to address emerging threats.

Here are five essential things CISOs want their CEOs to understand.

1. Cybersecurity is a strategic imperative

Security needs to be viewed as a strategic imperative rather than just an IT and GRC concern. This perspective is critical, given the increasing frequency and severity of cyber-attacks. A single data breach can result in significant financial loss, legal consequences, and damage to brand reputation. For instance, the 2017 Equifax breach compromised the personal information of 147 million people, leading to a settlement of up to $425 million and significantly damaging the brand’s reputation and customer trust.

Investing in cybersecurity is akin to investing in the future of the business. This means allocating sufficient resources to build robust security frameworks, implementing state-of-the-art technologies, and continuously updating security protocols — not just as an IT initiative but as an organization-wide imperative. Executive leadership should align with CISOs, understanding that cybersecurity efforts support the overall business objectives by ensuring operational continuity and safeguarding sensitive information.

“[…] CEOs and boards must begin to think about security in a new way. IT security — a task that could once be delegated to the IT staff — has become a top-level strategic issue because the consequences of failure can ruin a business.” - Bain & Company

CEOs should integrate security into every business decision and process. From product development to customer service, security considerations must be embedded to mitigate risks at every level.

For more on how businesses can incorporate and integrate security across organizational functions, read this blog highlighting some successful implementations.

2. Direct communication between CISOs and leadership

53% of CISOs report to a CIO or other IT leader, while only 44% report directly to a CEO. A direct line of communication between the CISO and CEO is essential for the organization's security health. While CIOs and IT leaders are focused on keeping the technical aspects of the business running, CEOs are responsible for the strategic vision of the company. When CISOs can communicate openly and directly with CEOs, it ensures that critical security issues are addressed promptly and effectively, without getting lost in bureaucratic layers.

This was highlighted in the case of Yahoo Inc., where senior executives failed to "properly comprehend or investigate" security breaches in 2013 and 2014, affecting over 500 million accounts. The incident highlights the potential outcomes when organizations suffer from a disconnect between technical and executive teams.

Regular, transparent communication helps in aligning the security strategy with business goals, ensuring that both the security team and executive leadership are on the same page. This alignment is crucial for implementing effective security measures and responding swiftly to incidents.

“The CISO should help leadership become cyber-fluent and help connect the dots between security threats and potential business impact.” - Joseph Nocera (Cyber, Risk and Regulatory Marketing Lead Partner, PwC US)

3. Understanding the complexity of threats

Cyber threats are increasingly sophisticated and varied, ranging from phishing attacks and ransomware to advanced persistent threats and zero-day vulnerabilities. CEOs must understand that the threat landscape is constantly evolving, with cybercriminals continuously developing new methods to breach defenses.

For example, ransomware attacks have surged in recent years, with the average ransom payment increasing by 82% from 2020 to 2021. The Colonial Pipeline ransomware attack in 2021 resulted in fuel supply disruptions across the Eastern United States and a ransom payment of $4.4 million. These incidents illustrate the financial and operational risks posed by modern cyber threats.

This complexity requires a dynamic and proactive approach to cybersecurity. It's not enough to implement a one-time solution. Organizations should continuously monitor threats, update defenses, and adapt to new attack vectors. For CEOs, this means investing in threat intelligence, conducting regular security assessments, and fostering a culture of vigilance throughout the organization.

Understanding the complexity of threats also means recognizing that security is not just the responsibility of the IT department. It requires a coordinated effort across all departments, with everyone from top executives to entry-level employees playing a role in protecting the organization.

“The future of cybersecurity in an AI-dominated landscape demands not only technological solutions but also a comprehensive understanding of the evolving tactics of cyber adversaries.” - Rik Ferguson, (Vice President of Security Intelligence at Forescout)

4. Incident response and preparedness

Being prepared for cyber incidents is crucial for minimizing damage and ensuring quick recovery. CEOs should understand the importance of having a well-defined and tested incident response plan in place. This plan should outline what steps should be taken in the event of a breach, including how to contain the threat, mitigate damage, and recover operations.

For instance, Maersk, the global shipping company, faced a significant ransomware attack in 2017, which cost them up to $300 million. However, their swift incident response and recovery efforts, including rebuilding their entire IT infrastructure, minimized further damages.

An effective incident response plan involves clearly defined roles and responsibilities, communication protocols, and procedures for dealing with different types of incidents. Regular drills and simulations can help ensure that everyone knows their role and can act swiftly and effectively in a real incident. The National Institute of Standards and Technology (NIST) provides a comprehensive framework for developing and implementing effective incident response plans.

To learn how Kaushik Hatti (CISO, Pinochle.AI) “uses AI against AI” to manage incident response, listen to Episode 5 of the In Security Podcast.

Preparedness also means having the right tools and technologies in place to detect and respond to threats in real-time. Investing in advanced security solutions, such as intrusion detection systems, security information and event management (SIEM) systems, and endpoint detection and response (EDR) tools, is essential for a robust incident response capability.

“Having an incident response plan helps to alleviate that blunt trauma, and puts you in the best possible position to act, and act decisively. ” - Channel Islands Information Security Forum

5. Managing security debt

Security debt is a type of technical debt that refers to a buildup of vulnerabilities in software that make it difficult or impossible to defend data and systems from attacks. Companies might accumulate security debt due to budget constraints, negligence in security, challenges in managing legacy systems, rapid growth without scaled security measures, or prioritizing short-term fixes over long-term solutions.

Managing security debt is critical for maintaining a strong security posture. For example, the WannaCry ransomware attack in 2017 exploited a vulnerability in outdated Windows operating systems, causing widespread disruption and damage across various sectors globally.

Addressing security debt involves conducting regular security audits to identify and prioritize vulnerabilities, replacing or upgrading legacy systems, and implementing standardized security processes. It also requires that leadership  commits to ongoing investment in cybersecurity to ensure that the organization can keep up with the latest threats and technologies.

By understanding and managing security debt, organizations can reduce their risk of cyber incidents and improve their overall security resilience. This proactive approach to security management is essential for protecting the organization’s assets and ensuring long-term success.

“Just like financial debt, security debt accrues when organizations compromise security measures in favor of convenience, speed, or cost-cutting measures. Over time, this accumulated debt can pose serious risks to the organization's data, reputation, and overall stability.” - Brian Roche (Chief Executive Officer of Veracode)

CISOs and CEOs collaborating for better security

By recognizing these critical aspects of cybersecurity, CEOs can better support their CISOs and ensure that their organizations are well-prepared to face the complex and ever-evolving threat landscape. Viewing cybersecurity as a strategic imperative, fostering direct communication, understanding the complexity of threats, prioritizing incident response and preparedness, and managing security debt are all crucial steps towards building a resilient and secure organization.

Investing in security is not just about protecting data; it’s about safeguarding the future of the business. As cyber threats continue to evolve, so too must the strategies and measures that organizations employ to defend against them. By working together, CISOs and CEOs can create a robust security posture that supports the organization’s long-term success.

To better understand the interplay of CISOs, check out our podcast where Chris Cruz, Public Sector Chief Information Officer at Tanium, shares his insights on the pivotal CISO-CIO relationship, navigating cyber risks, and tackling the challenges of remote work and AI in cybersecurity.