How CISOs can forge the best relationships for cybersecurity investment

The Importance of a Business Mindset

In turn, applying a business mindset helps CISOs achieve budget goals and greater satisfaction when day-to-day security operations are in sync with the strategic goals and priorities of leadership, including the board. CISOs that lead security programs viewed in the context of business risk are more likely to be satisfied with their budget when this alignment is in place, according to the IANS report.

The Paradox of Budget Allocation

However, in practice, CISOs can find themselves facing a critical paradox, according to Richard Watson, global and APAC cybersecurity consulting leader at EY. On one hand, the board can express a low appetite for cyber risk, but on the other hand, management might be saying there’s a need to cut a certain percentage from the budget. “These are almost irreconcilable positions, yet I see a number of CISOs struggling with this paradox,” Watson says.

Building Support for the Budget

While the CFO is a key stakeholder due to their budget management role, in these kinds of situations, Watson says it’s important for CISOs to highlight these contradictory objectives and look to natural allies to help build support for their budget.

Conclusion

In conclusion, aligning security operations with business goals is crucial for CISOs to achieve budget goals and greater satisfaction. However, CISOs may face a critical paradox when trying to allocate budget. By highlighting contradictory objectives and building support from natural allies, CISOs can overcome this challenge and ensure the security of their organization.

FAQs

Q: What is the importance of a business mindset for CISOs?

A: Applying a business mindset helps CISOs achieve budget goals and greater satisfaction when day-to-day security operations are in sync with the strategic goals and priorities of leadership, including the board.

Q: What is the paradox of budget allocation that CISOs face?

A: CISOs may face a critical paradox when the board expresses a low appetite for cyber risk, but management requires a certain percentage to be cut from the budget.

Q: Who is a key stakeholder for CISOs when it comes to budget management?

A: The CFO is a key stakeholder due to their budget management role.

Q: How can CISOs build support for their budget?

A: CISOs can highlight contradictory objectives and look to natural allies to help build support for their budget.