While cybersecurity risks are similar across the board for any IT leader, it's down to each CISO to decide what takes priority. Before doing that, they need to assess the risks and plan accordingly for them. Unfortunately, many businesses don't do this. A 2022 UpCity study – the Small Business Cybersecurity Survey Investigations Report – found that only 50% of SMBs have a cybersecurity plan.

In the two years proceeding from the beginning of the COVID-19 pandemic, the business world has been transformed on a grand scale. Organizations have created more data than ever before, data is now spread across a wider attack surface, putting it at a heightened risk of becoming a compromised risk. The manner and location of data storage and correspondence has had to shift to meet the needs of remote and hybrid workers, with companies being forced to take a more rigorous approach to data security.

The job of a CISO is one of constant change and unexpected challenges. One of the most energetic environments to govern is that of a university. Universities function not only as academic institutions, but also as research hubs, hosting both curious students, as well as notable scholars. This is an audience not known for slow-motion progress. They need results, and they expect them quickly. At a large university, the responsibility of a CISO is dizzying.

The role of information security in modern enterprises is evolving like never before. Security will need to improve third-party oversight as organizations increasingly depend on outsourcing models for scale flexibility, efficiency, and cost savings. It will also need to do a better job of balancing security requirements (e.g., regulatory compliance, risk management) against business objectives (e.g., user experience, network performance, reducing costs).

2022 has been busy in the cyber world. While there were signals in 2021 with the increased in activity in threat actors targeting OT environments with ransomware, the conflict in Ukraine prompted many businesses to press harder in asking more questions about their own resilience with operational technologies (OT) and supply chain infrastructure.

“Approximately 64% of global CISOs were hired from another company” according to the 2021 MH Global CISO Research Report. The reasons are because of talent shortages, the role is still new to some companies, and companies have not created a succession plan to support internal promotions. To overcome these challenges, companies can look to Virtual Chief Information Security Officer (vCISO) or a vCISO as a service provider.

Cyber insurance coverage? Through the roof these days. Also, coverage is not that easy to get. The many breaches and the dollar judgements handed down make cyber insurance another costly operating investment. A mid-sized client of mine, as an example, pays $1 million in annual cyber insurance costs just to do business with its commercial and government customers. The issue adds another twist to the topic of third-party risk.