COMMENT
Cybersecurity has never been more important for responsible corporate governance, as cyber attacks are among the most serious threats to companies’ customers, operations and reputation.
Boards of directors must invest in cybersecurity awareness training programs to prepare their entire workforce for evolving cyber threats, and Chief Information Security Officers (CISOs) must support this effort.
CISOs play a critical role in building stakeholder support for cybersecurity throughout the company, particularly on the board of directors. Board members often lack the knowledge needed to make informed decisions about the company’s cybersecurity strategy, and it is the CISO’s job to educate them clearly and convincingly. CISOs must demonstrate how much damage cyber attacks can cause, how employees can be equipped to identify and prevent these attacks, and how to maintain accountability for their risk mitigation program.
The 5 main communication strategies of CISOs
There are several strategies that will help CISOs gain long-term support for awareness training from their boards, from communicating cybersecurity concepts in an engaging, non-technical way to showing board members that security programs IT offer a significant ROI. Let’s take a closer look at the top five ways CISOs can demonstrate to boards that it’s time to prioritize cybersecurity.
1. Know how to communicate with non-technical audiences.
While almost three-quarters of CISOs report having “adequate exposure to the board,” a majority of CISOs report that their board lacks the “knowledge or expertise to effectively respond to their presentations.” CISOs must do more to address this disconnect, a process that starts with assessment how they communicate with board members.
Cybersecurity is an intimidating topic for non-technical audiences, but it doesn’t have to be. CISOs can make an understandable and compelling case for cybersecurity by highlighting the devastating real-world consequences of successful cyberattacks, revealing how cybercriminals deceive and manipulate their victims, and explaining that the right behavioral interventions can empower all employees to resist cyber attacks. CISOs can also highlight concrete examples of cyber attacks.
With boards of directors looking to increase their investments in cybersecurityIt is essential that CISOs clearly highlight the value of risk mitigation strategies such as awareness training.
2. Focus on the entire cyber impact chain.
According to IBM, the average cost of a data breach rose to $4.45 million in 2023. Cyberattacks can also lead to severe reputational damage, operational disruptions, legal and regulatory consequences, and crippling effects on the health of the company’s workforce. ‘agency. This is known as the cyber impact chain, a crucial concept that CISOs must discuss with board members.
Boards of directors need to be aware that the effects of cyber attacks extend far beyond the immediate financial burdens. At a time when 86% of consumers are concerned about data privacy, a major cyber attack can undermine trust for years. As data regulations become increasingly strict, companies will be held liable for compromised customer information.
CISOs have all the information they need to educate boards about the consequences of cyber attacks. They just need to present the information in a way that gets the attention of board members.
3. Emphasize the human element.
CISOs have the knowledge to explain how key cybercriminal tactics are countered. For example, 74% of all violations they involve a human element – an alarming reminder that social engineering remains one of the most potent weapons in the cybercriminals’ arsenal.
There are several ways CISOs can productively discuss the threat of social engineering with their boards. They can provide concrete evidence of the impact of social engineering attacks, explain how awareness training helps the company prevent these attacks, and emphasize the most effective ways to educate employees. Cybersecurity is everyone’s responsibility, which is why CISOs must support full employee engagement with consistent, fun, and relevant training content.
Mindfulness training is one of the better ways to mitigate the financial impact of data breaches as it can help businesses keep pace with emerging cyber threats and be customized to take into account individual psychological susceptibilities and learning styles. As long as social engineering remains an integral part of most cyberattacks, CISOs will need to prioritize human-focused cybersecurity.
4. Describe how awareness programs can be measured.
As investments in cybersecurity increase, CISOs must make accountability a central pillar of their awareness training case. When board members see that spending on cybersecurity is paying off, CISOs will be able to maintain support.
CISOs must ensure that employees learn what they need to know about cyber threats and the most pressing tactics. Companies can use assessments like simulated phishing to expose vulnerabilities and determine whether employees can apply what they’ve learned in real-world scenarios. These tests are especially valuable considering that, according to IBM, phishing is the most frequent and second most costly initial attack vector.
In addition to simulated phishing, CISOs can outline other forms of accountability to the board: employee-specific behavioral risk profiles, organization-wide security assessments, and proactive incident reporting. These are all ways to reassure the board that resources allocated to cybersecurity are being put to best use.
5. Ensure long-term support.
Despite growing concern about cyberattacks, too many companies still view cybersecurity as a tick-box exercise. They rely on a few email PSAs or perfunctory cybersecurity presentations a few times a year, which fail to provide employees with consistent, engaging content that delivers sustainable behavioral change.
As the cyber threat landscape continues to evolve, companies must keep employees updated on the latest tactics from cybercriminals, such as the use of artificial intelligence to create convincing, targeted phishing messages at scale. Consistency is also necessary to reinforce what employees learn and identify weaknesses, such as psychological vulnerabilities exploited by cybercriminals. The goal of a security awareness training program is to create a cybersecurity culture at every level of the organization that can adapt to these challenges.
Cybercriminals are constantly developing increasingly sophisticated and effective ways to infiltrate businesses by manipulating employees. This is why CISOs need to ensure their boards have long-term support for effective cybersecurity initiatives like Customer Satisfaction Score (CSAT) – the threat is becoming increasingly serious, and companies bear the responsibility to be prepared.