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What Do Executives Need to Know About Cyber Threats?

The more knowledgeable your C-suite, the sooner the necessary policies can be enforced throughout the enterprise. Don’t wait for the next massive breach to make the necessary changes in your IT strategy.  

Due to potential threats and budget outlays, most CEOs are aware of the importance of IT security. However, it’s important to also stay on top of the latest Cyber threats.

According to Chuck Lobert, a Detroit IT services, and cybersecurity professional, “The Chief Information Security Officer (CISO) makes for a perfect prism. This is a dynamic role that balances technology with business, people with processes, budget allocations with bottom-line concerns, and advocacy with diplomacy. Perhaps, most importantly, it illustrates the executive suite’s familiarity with the technology threat matrix. Or, to put it more accurately, the lack of familiarity.”

This is why it’s important to fill existing knowledge gaps quickly.

What Do C-level Executives Know – or Not?

A survey of 400 executives in the U.K. and U.S. revealed:

  • 78% of surveyed execs admitted to knowledge gaps regarding malware
  • 68% needed to learn more about phishing
  • 66% said they knew little about ransomware
  • 72% weren’t that familiar with crypto mining

The right technologies—data, processes, and skills—propel organizations to innovation. However, hackers look for any small chink in the armor to release malware and viruses into your network. The CISO role is therefore intricately connected to all other operations.

Also Read: Cybersecurity skills gap in the United Kingdom

Is Your IT Security Properly Funded?

Today’s headlines are full of data breaches, so you should ask yourself, is your IT security properly funded?

  • 90% of CISOs need at least one additional resource for cyber threats.
  • 59% lack advanced technology needed to deter threats
  • 70% of the survey executives say they found malware that had been on their networks for up to a year.

These numbers illustrate some real issues that go beyond statistics. As information technology becomes more intertwined with our lives through more PPA, devices, channels, and capabilities, the opportunities for hackers to exploit vulnerabilities also grow.

Does Your CISO Need More Help?

The sheer volume of the attacks makes it more and more difficult to detect and prevent new threat vectors. It’s a moving target that can zip past unprepared companies.

The survey found that:

  • 91% of CISOs admitted to being under moderate to severe stress
  • 60% were unable to disconnect from work
  • 25% had health and personal issues due to job stress
  • Less than a third remain in the position longer than three years

If you need continuity in your IT leadership and security team, hiring a managed service provider may be the key to keeping your existing employees from overloading. Plus, it’ expensive to hire cybersecurity professionals with a wide set of skills needed to combat cybercriminals.

For a predictable monthly fee, your company can gain access to certified, experienced resources to design and protect against cyber threats, security and network solutions at your organization.

Also Read: 20 Incredibly Resourceful Ethical Hacking Books for Beginners

Does Your C-Suite Need More Cybersecurity Awareness?

Business IT security isn’t a standalone function, it’s a business-critical mission that needs to be integrated into every application and system used in your business operations. The more knowledgeable your C-suite, the sooner the necessary policies can be enforced throughout the enterprise.

Don’t wait for the next massive breach to make the necessary changes in your IT strategy.

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