A Fractional Business Information Security Officer (BISO) to support SMBs
Instead of waiting for a data breach or security incident, the BISO is tasked with anticipating new threats and actively working to prevent them from occurring. The BISO works with other executives across different departments to ensure that security systems are working smoothly to reduce the organization’s operational risks in the face of a security attack.
A BISO oversees:
- Business Continuity
- Due Diligence
- Cybersecurity Compliance
- Incident Response
- Risk Evaluation
- Policy Development
- Threat Assessments
- Security Metrics
- Strategic Planning and Secure Architecture
Ransomware has increased 13% in breaches last year, greater than the last five years combined.
Coveware report notes that 82% of attacks that took place in 2021 impacted organizations with less than one thousand employees but only 14% of SMBs have adequate cybersecurity defenses.
The average cost for a business with 100-1,000 employees to remediate a ransomware attack is $505,827.
60% of SMBs fold within six months of a cyber-attack. No wonder, it takes on average 21 days to recover from a cyber-attack.
Generally, an organization applies information security (infosec) to guard digital information as part of an overall cybersecurity program. Infosec’s three primary principles, called the CIA triad, are confidentiality, integrity and availability.
In short, infosec is how you make sure your employees can get the data they need, while keeping anyone else from accessing it. It can also be associated with risk management and legal regulations.
The chief information security officer’s duties may include; conducting employee security awareness training, developing secure business and communication practices, identifying security objectives and metrics, choosing and purchasing security products from vendors, ensuring that the company is in regulatory compliance with the rules for relevant bodies, and enforcing adherence to security practices.
Other duties and responsibilities BISOs perform include, ensuring the company’s data privacy is secure, managing the Computer Security Incident Response Team and conducting electronic discovery and digital forensic investigations.