CIOs have turned to the Pareto Principle to ensure the security of the organizational and customer data.
Security leaders say that the security space has changed drastically in 2020 due to the worldwide pandemic. However, they are yet to fully prioritize cybersecurity to ensure the effectiveness of the security protocols. The major reason for this is that even IT leaders lack a clear definition of security.
Each organization defines its parameters for security purposes. These parameters are required to be on the same page with the security mission statement, clarified organizational roles, and governance pattern. IT leaders state this document is critical and should be in a position to answer questions on the hierarchy of an organization’s security reporting. They believe that each major organization should insist on appointing a CISO who has visibility and access to the board and C-suite executive management.
CIOs can build security in the company with effective awareness programs and communication. User awareness and training programs are preferred ways to improve security practices and develop a cybersecurity network within an organization.
Factor Analysis of Information Risk (FAIR) model
This model gives a list of tasks that can be used by both business leaders and users, to manage security risks. It is a part of the ISO 31000 Risk Management Framework. The FAIR model was standardized by the Open Group as the quantitative approach for risk analysis which simplifies security spending and activities.
Set up a control baseline
CIOs say that to handle risks, companies should establish a control baseline. This can be done with the help of the NIST 800-53 framework or NIST cybersecurity framework. This will help to establish shared responsibility architecture for third party vendors like cloud service providers, meet compliance requirements, and identify main components that are vulnerable to cyber-attacks.
Establish a simple IT and Security infrastructure
IT leaders feel that a control baseline cannot be implemented effectively in a chaotic IT setup. The addition of a hybrid cloud on top of years of technical debt promotes greater confusion, rather than simplifying the process. Technical debt arises from implementing various applications and infrastructure platforms without analyzing the numbers and complexity. Security leaders play a major role in contributing to the IT strategy plans, aligning security controls, and encouraging employees to cross-train in cloud security, DevSecOps, third-party management, etc.
Minimal impact on business based access controls
CIOs prefer the GDPR regulations that clearly define the protocols to be followed for accessing, sharing, and using information, to define access control protocol. Typically IT leaders and managers control the access or set the rules for access controls themselves. Such rules should be mindful of customer privacy, confidentiality, and employee productivity requirements.
Promote cyber resilience
Due to the increased danger of cyber-attacks, CIOs must boost cyber resilience in the firm. It is defined as the company’s ability to detect, recover, and respond to outages and cyber threats. BCP, threats monitoring, and incident response is the key factors of an effective cyber resilience plan.
These tasks consist of the Cybersecurity Pareto Principle, which is a long term plan. It should be implemented based on the industry type and maturity level.