Cybersecurity in a Digital Era.Pdf
Digital McKinsey and Global Risk Practice Cybersecurity in a Digital Era June 2020 Introduction Even before the advent of a global pandemic, executive teams faced a challenging and dynamic environ- ment as they sought to protect their institutions from cyberattack, without degrading their ability to innovate and extract value from technology investments. CISOs and their partners in business and IT functions have had to think through how to protect increasingly valuable digital assets, how to assess threats related to an increasingly fraught geopolitical environment, how to meet increasingly stringent customer and regulatory expectations and how to navigate disruptions to existing cybersecurity models as companies adopt agile development and cloud computing. We believe there are five areas for CIOs, CISOs, CROs and other business leaders to address in particular: 1. Get a strategy in place that will activate the organization. Even more than in the past cybersecurity is a business issue – and cybersecurity effectiveness means action not only from the CISO organiza- tion, but also from application development, infrastructure, product development, customer care, finance, human resources, procurement and risk. A successful cybersecurity strategy supports the business, highlights the actions required from across the enterprise – and perhaps most importantly captures the imagination of the executive in how it can manage risk and also enable business innovation. 2. Create granular, analytic risk management capabilities. There will always be more vulnerabilities to address and more protections you can consider than you will have capacity to implement. Even companies with large and increasing cybersecurity budgets face constraints in how much change the organization can absorb.
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