CISO, responsible for cybersecurity, and executive boards need to communicate more frequently and more effectively. Board members increasingly recognize that value creation, trust, and cybersecurity go hand in hand. Cybersecurity features prominently on their agendas, however, they could make better use of the expertise that CISOs bring.
The great uncertainty in the world, driven by geopolitical unrest and rapid technological developments, is keeping CEOs awake at night, according to PwC’s annual CEO Survey. Another issue that occupies CEOs more than average is cybersecurity. These risks are significant and urgent, and they are closely linked to global instability as well as to technological developments.
That the topic features prominently on boardroom agendas is good news. Even more remarkable, then, is that PwC’s research Digital Trust Insights shows that interaction between the C‑suite and the CISO could be improved. Only one‑third of Dutch respondents reported that there is regular contact between the CISO and top management. A strong CISO combines deep technological expertise with a solid understanding of the business. The CISO’s role is crucial in cybersecurity: to prevent cyber measures from being overlooked in new initiatives, and to ensure that senior leadership has insight into the associated risks. When it comes to technology, opportunities and risks are two sides of the same coin.
The recently published CEO Survey (January) shows that nearly three-quarters (67 percent) of Dutch CEOs plan to invest in cybersecurity in the coming period. This is a positive development, as CEOs will be facing significant new challenges in the years ahead. Below, I highlight two examples that clearly illustrate how cybersecurity is expanding into new domains.
For a long time, cyber risks were viewed primarily as a technological issue — a weak spot in the technical infrastructure. Now, they are increasingly recognized as strategic risks for organizations. More and more executives understand that value creation, trust, and cyber safety are inseparable. This makes it even more important to draw on all the knowledge available within an organization. And it is equally a reason to ensure that the CISO is invited to the boardroom more often.
Partner Cybersecurity, Privacy & Resilience, PwC Netherlands