#MillenniumLive , Data , Podcast
All companies connected to the internet are vulnerable to cyber attacks, with the potential losses significant. Nowadays, liability for data breaches that affect customers leads directly to the leadership of the C-Level suite. Now more than ever, executives need to personally know how strong their company’s cyber defenses are, as well as the expected responses for attacks or breaches.
However, experts say that many business leaders are resistant to investing in systems and training to protect against cyberattacks. Experts are baffled by this mentality the of CEOs and CIOs that they are safe because they do not have anything worth stealing, which, of course, is false in the digital era.
Where C-Level Executive’s Go Wrong
For the C-Level executives that think they are safe from any form of cyberattacks, the risks are growing every minute. Unfortunately, for every business leader, a cybersecurity attack is no longer a potentiality, it is an eventuality. For a C-Level in an business in any industry, there will never be enough technology or humans to truly protect a business from an attack due to the fact that attackers grow increasingly intelligent and agile as technology evolves.
“Gone are the days when companies could pass the headaches of cyber security to the IT department, as it has become more of a business issue too. This is especially important as businesses are more digitized, meaning they are exposed to an increasing number of threats if they do not manage the risk of security properly, especially from the viewpoint of the executive.” Forbes reports.
Since there could never be enough strategies for a C-Level to implement to protect their business in the age of digital transformation, they will need to invest just as much time and energy in being able to respond and recover when a cyberattack does occur.
What are the Measures C-Level’s Should Take?
Executives should start by understanding what protocols they currently have in place and where they fall short in the IT sphere of their business. According to experts, an annual security assessment is thought to be a best practice to prevent data breaches. If performed correctly, the security assessment reveals the residual risk, and the number and scale of attacks that are likely to get through. If the residual risk is acceptable, then an annual review may be sufficient for most C-Level executives.
However, most experts say that cybersecurity should be viewed as four main components: Prevention, Detection, Response, and Recovery. While there are multiple prevention technologies that a business can take, it would be easier for a C-Level executive to understand which route to take when deciding on which exact measure they should implement into their IT department.
“Rolling the dice on a cyberattack creates an enormous financial risk for your business. But the stakes are much higher than that. Doing so is also, in effect, gambling on the livelihoods of all of your employees and the data security of your customers. As a leader, you have a duty to protect them all.” Forbes reports.
Unfortunately, no business is immune to cyberattacks. Hackers cast a wide net in their search for vulnerable targets, leaving your business open for an attack at any time. With the chance that hackers have identified your point in the financial value chain very high, they are most likely trying to penetrate your cyber defenses at this very moment. Therefore, it is now up to the C-Level executive to not be caught sleeping during this time and ensure that the technology and people that they have are up to speed and ready to protect their company.
ABOUT THE TRANSFORMATIONAL CISO ASSEMBLY
In a new digital world, driven by data, businesses of all sizes are working tirelessly to secure their networks, devices, and of course, their data. CISOs need to plan for worst-case scenarios, stay ahead of latest IT Security transformation technology, and maintain their company’s information assets without losing sight of the corporate culture.
This November, the 6th edition of our Transformational CISO Assembly will bring together industry leaders to discuss the latest strategies and innovations in cybersecurity in Miami. Join us today, the assembly is now open for application!
This is not just another “IT Security” event. Spaces are reserved for the best in the business. Contact us today to reserve your seat >>
Our agendas and attendee lists are for Millennium Members only. Apply today for access!
Already a Millennium Member? Simply click the link and enter your password when requested
Jenny Schecher is a Client Services Director & Social Media Manager at The Millennium Alliance. Jenny is an avid contributor to our blog, Digital Diary, as well as all social media platforms. When she is not writing about digital transformation and technology, she is working with her team to make visions come to life at our events. (and eating all of NYC's best food.) Follow her on Instagram: @jennyschecs or find her on LinkedIn!
Reach thousands of C-Level
Executives every month.
Do you have content that you feel will
resonate with our audience? We'd love to
welcome you as a guest contributor!
Premium content to our readers
interested in all things business.
Millennium Membership offers Fortune 1000 C-Level executives, leading public sector/government officials, and thought leaders across a variety of disciplines unique and exclusive opportunities to meet their peers, understand industry developments, and receive introductions to new technology and service advancements to help grow their career and overall company value.About Millenium Alliance
Launched in 2017, Digital Diary was created to provide premium content to our members interested in executive education and business transformation. With C-Suite executive and top academic contributors, interviews with industry leaders, and digital transformation insights from technology experts, Digital Diary has all of the professional development tools you need to stay ahead of the curve.
We are dedicated to distributing meaningful opportunities for our reader to increase their personal knowledge, simplify business initiatives, and to have the right information to build their capabilities and leadership skills at every level.
In the midst of disruption across all industries, our members are given the tools they need to digitally transform their organizations.
Joining Mill All is an opportunity unlike any other to connect with the best professionals in your industry and be a part of a community to become the best leader you can be.
500 Companies Attend Each Year