Keep Your Job After a Cyberattack
 

Today’s regulatory environment is recognizing the massive impact of the theft of private data by fixing accountability issues. As companies’ handling of private data come under intense public scrutiny, CEOs are being held responsible, with Equifax CEO Richard Smith famously resigning in 2017.

 

This is an increasingly worrying trend for the CEOs. Gartner identifies seven reasons why more CEOs will lose their jobs over cybersecurity breaches and what they can do to hold on to their jobs.

No. 1. Accountability is broken

CEOs can no longer get away with “I just did what the security people told me to do.” They need to establish strong accountability models and ensure that systemic security problems don’t simmer.

No. 2. The cultural disconnect

The perception that cybersecurity is a technical problem to be handled by technical people will no longer hold. CEOs must hire the right people with the right technical knowledge to reduce data breaches.

No. 3. The server that never got patched

CEOs need to be extra vigilant and crack a whip on the teams responsible for patching all the servers as there is always that one server which gets left out.

No. 4. Your security officer is the defender of your organization

CEOs must engage their security staff to ensure they understand the importance of data protection and the risks of data theft. 

No. 5. Throw money at the problem

CEOs must avoid negative business outcomes by raising ongoing operational costs and potentially damaging the ability of the organization to function.

No. 6. Risk tolerance and appetite are fluffy

CEOs must avoid making promises to only engage in low-risk activities, which could prove a counter to good business.

No. 7. Social pressure

CEOs must leave their egos outside the door when the problem arises. They must admit the problem, which helps reinforce a positive impression.

 

Get more insights on how to reset approaches to risk and security to avoid getting fired at Gartner Security & Risk Management Summit 2019 from August 26-27 in Mumbai.

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