Businesses face an unprecedented level of threat from cybercriminals and must take steps to protect their organizational information. Chief Information Security Officers (CISOs) develop, execute, and maintain an organization’s strategy to protect information technology assets, people, and customers.
What is a Virtual CISO?
CISOs are very experienced and, hence, expensive resources. While most small businesses need the expertise of CISOs, they cannot afford a full-time CISO and have, in the recent past, resorted to hiring a fractional CISO, or what is now popularly known as a Virtual CISO.
A Virtual Chief Information Security Officer is an outsourced security advisor. A Virtual CISO is a very seasoned professional, who develops, implements, and manages an organization’s information security program. At a high level, Virtual CISOs:
- Architect the organization’s information security strategy
- Oversee the implementation of the strategy
- Enable the organization to comply with required industry-specific information security certifications
- Established the information security management team
- Undertakes security risk management and audits
- Maintains or improves the organization’s information security maturity level
- Coordinates with auditors from certification bodies, regulators, and customers
Thus, a Virtual CISO offers a cost-effective approach to small and medium businesses that cannot afford a full-time CISO.
Why is the trend of hiring Virtual CISOs rising?
The following reasons are fueling the demand for virtual CISOs:
- Rising cybersecurity concerns– Cybersecurity is now one of the topmost organizational concerns for CEOs. The rising number of data breaches, evolving ingenuity, and sophisticated attacks make organizations establish a more robust information security management system.
- Short Supply of qualified CISOs and Expensive resources. CISOs are in short supply, and the Virtual CISO can be a cost-effective strategy for organizations looking to fill their security leadership positions without draining their financials. An average CISO salary is about $250,000, but organizations can hire virtual CISOs at a fraction of that cost.
- Virtual CISO – a consumption-based cost-effective option. Creative contract structuring with Virtual CISO enables organizations to:
- Get access to more qualified CISOs with diverse industry experiences
- Establish a more robust security management system and associated controls
- Pay for the services consumed and focus on achieving security outcomes.
When should you opt for the Virtual CISO option?
Some of the considerations that go into the decision to choose between virtual CISO vs. a full-time CISO are:
- Size of the organization. Industry-specific information security requirements and regulatory guidelines mandate that you achieve a specific information security certification by establishing a robust ISMS program. But the size of your organization is too small to afford a full-time CISO. In this scenario, it may be a cost-effective option to hire a Virtual CISO.
- Taking the organization’s security management system to the next level. While you may have a full-time CISO, you require the expertise of a senior-level resource to take your security initiatives to the next level. Relying on a seasoned Virtual CISO can help you accelerate the journey.
- Bridge hiring. Sometimes, the exit of the current CISO may require you to hire a strong security leader for a short time till you find a replacement. At that time, the Virtual CISO may be an excellent option to bridge the gap.
- Re-alignment of your security programs. Security risks are evolving every day, and cybercriminals are becoming more innovative. A Virtual CISO can help you re-evaluate your current programs, spending, and compliance focus and safeguard you from evolving threats.
Anvaya’s IT Professional Services
SMBs often do not need a full-time, in-house CISO and can hire a Virtual CISO to provide the expertise and skills at a fraction of the cost of a full-time CISO. Larger organizations require bridge consulting and program enhancement support from time. Here’s where Anvaya’s team of IT consultants and cyber security experts can help.
Our team comprises cybersecurity experts with over two decades of experience in helping organizations mitigate cybersecurity risks. We bring experience in improving security maturity, managing security risks, compliance and certification support, IT governance, continuous improvement, and process automation. We offer consulting services for almost the entire breadth of information security certifications.
Service Costs and inclusions.
We offer flexible contracting options depending on your specific situation. Contact us to get a customized program tailored to your particular needs.
Our Virtual CISOs:
- Provide executive leadership to your information security management system and initiatives.
- Work with your executive leadership to determine priorities and tailor specific security programs and projects
- Involve in providing governance, developing P&Ps, and performing comprehensive risk assessments.
- Take on sophisticated penetration testing working with third-party experts
- Support your current awareness training initiatives and bring continuous improvements
- Perform annual security assessments
- Bring the benefit of the experience of working with multiple industries and implement best practices
- Create a team of internal auditors and implement tools to monitor the audit program
