CIO & CISO DENMARK SMART WEBINAR

SECURITY AND RISK MANAGEMENT LEADERS

Information Security is dealing with an increasing volume and variety of risk decisions emerging from different parts of the business. To effectively deal with this new reality, Information Security must work with its business partners to develop better decision-making.

STRATEGIC RISK MANAGEMENT FOR LEADERS

Firm’s capacity and capability to manage cyber and regulatory risk has never been more important. The Information Security, Compliance and Risk functions also have a critical role to play in helping senior managers to understand and manage cyber risk, regulatory risks, reputation risk, compliance risk and risk governance.
Where possible, it is useful to consider risk in the context of how shareholders or stakeholders measure value in the organisation. This will help management articulate to stakeholders how the risk they are taking or the risk the business is exposed to may affect the organisation ability to realise its objectives. Creating common metrics for risk and performance also allow management to define the priorities of risk management activities and focus on the more relevant risk like Information Security (Physical & Cyber Security) to stakeholders and the board.

Encouraging management to understand risk impact in the context of key performance metrics can be complex task. However, if the key value drivers of the business are well understood by management, determine the potential impact of Information Security and other risk events on these value drivers should be achievable and would be considered part of the good risk management system.

PROCESSES AND BEHAVIOURS

Information Security needs to work with its stakeholders to determine the acceptable levels of risk that the enterprise can take on. A recent article examined health care’s cyber security issues due to the sector’s prominence in cyber-attacks and the disastrous negative consequences that occur when hospitals can’t normally function. While the article focuses on the health care sector, the seriousness of the cyber threat problems discussed brings to light the perennial challenge for Information Security around how it can balance its risk mandate with the enterprise’s desire to quickly deliver business outcomes while ensuring that good decisions are made.

BALANCING USER EXPERIENCE, TRUST, INTEGRITY AND SECURITY

Integrity and trust is at the heart of traditional business models. Digital transformation is challenging businesses to continue to deliver trust and integrity as services are increasingly moved away from the traditional outlets to online portals.

Covid-19 has made us all realise it’s ever-more essential to deliver trust at the heart of a brand’s digital products, services, and experiences. With almost everything going digital, how do you balance user experience, with trust and security?

SOCIETY POST COVID19 – WILL WE BE A NAME, OR JUST A NUMBER?

The World has been forced into digitalization overnight. Much more effectively than any CDO or CEO has managed up until now. Slow and steady we are looking to return to the much anticipated “normal state”, but what is normal? What will be normal? While there will certainly be physical interaction also in the future, we’re looking at a world that very quickly will become much more digital – and with it the need to further secure also our digital life, and identity.

CHALLENGES

1. Some security and digital professionals say that the current platforms in place no longer solve tomorrow’s challenges? Do you agree / what is your experience?
2. COVID-19 has increased the need for Digital transformation. What are the biggest challenges you have experienced as a result of the current world situation?
3. Do you feel there is a trade-off between user experience and security?

OPPORTUNITIES

1. What changes / business opportunities do you see come out of the current situation?
2. Does Security take up more space on the board now than 3 months ago?
3. How has Covid 19 changed your view on the importance of identity in your digital transformation journey.

TRUST

1. Consumers are waking up due to infringement of privacy, therefore, how do you position yourself as a trusted ‘provider’ of your users/customers/ client’s data?
2. How to combine the interest of the company and the interest of the customer?

ACTION

1. What actions are needed today to stay current and be able to respond to these challenges?
2. How do you balance user experience with trust and security for your organisation(s)?