IT Security and Compliance Teams can learn from each other to confront the challenges of aligning cybersecurity with compliance efforts.
Over the last few years we have seen a shift in the way businesses are confronting the challenges of securing their digital transformation – by aligning the efforts of the compliance and IT security teams to reduce internal friction. While businesses are rapidly innovating to improve the experience for their customers, this in turn creates a treasure-trove of opportunities for cyberattacks.
Bringing together the compliance and security teams for a holistic view will benefit the organization by improving the cybersecurity posture of the organization. In addition, it builds customer trust and illustrates the ability to adapt and innovate to lead to greater financial returns. According to a recent survey by the Ponemon Institute, sixty-five percent of respondents believe that compliance with external and internal regulations is also important to achieving a stronger security posture. While, fifty-five percent of respondents say a well-informed and involved CEO and board of directors is critical to a strong security posture.
The organizations most often targeted are those that have complex regulatory requirements, such as healthcare, financial services/banking, defense. It is difficult for any size business to recover from the losses of a cyber-attack. The solution is to coordinate the efforts of the security and compliance leaders.
Starting at the Top
To truly integrate the efforts of the two internal disciplines requires executive support and prioritization. Only when these two functions are embedded within the organization will success happen.
BAP’s CEO and Co-founder, Jeffrey Lush, has said that “It is too late to start making these changes after a breach has occurred. It must not be a once a year thing. To truly be successful, partnership between IT and Compliance must become ingrained in the culture of the organization. This only happens when the C-Level teams recognize and prioritize the efforts of these teams within corporate initiatives.”
In addition, management must support this Management. In the same Ponemon Survey, global respondents believe it is a myth that the CEO and board of directors are too far removed from day-to-day security events to provide effective oversight and compliance. Respondents believe the CEO and board of directors can provide effective oversight and guidance.
Ultimately, these regulations and requirements are designed to protect your customers, data, and employees from the potentially disastrous effects of hacks. By working together ahead of time to develop comprehensive a unified cybersecurity strategy, the organization can start to move to a proactive stance, rather than a reactive, post-breach position.
Security teams and Compliance teams can work together to help determine how to prioritize resources to the areas most needed. This may be to align with required regulation, or to establish processes for continuously monitoring the environment. Part of that includes, identifying “red flag” areas for concern. That may include the handling of PII by individual employees or at-risk employees of termination.
Succeeding as your organization races to digitally transform, will translate into profitable growth and establishing trust with your customers. Implementing a holistic view of your cybersecurity and compliance environments will move the organization from a “check-the-box” position, to a cyber-resilient and accountable security program.
BAP continues to develop ground-breaking technology aimed at bridging the gap between compliance and security to give the C-Level audience the visibility they need to ensure the overall health of their environment. Get a complimentary demo today.