Leveraging the Benefits of a Cyber Advisory Board in a Tight Market

HMG Strategy: By now, everyone is well aware of the acute shortage of cyber security talent. The infamous Target breach of 2013 and the current-day widespread ransomware attacks have been a wakeup call, and major companies across all industries have embraced the need for installing a dedicated cyber security team and program.

This increased awareness has put incredible pressure on the limited existing human capital pool for this functional area. Further complicating matters, the head of cyber security role (often the Chief Information Security Officer, or CISO) has been elevated in organizations as the perceived risk of a cyber breach has become one of the top enterprise concerns. The role has evolved from what had been a lower-level tactical IT role to a more strategic enterprise risk role. Thus, the profile of a CISO has had to change to keep pace with the expanded scope of the role.

As you can imagine, the new CISO job requirements which extend to enterprise risk management have further narrowed the number of available executives capable of fulfilling the new mandate.

So, what is the market to do?

Caldwell Partners is rolling out such a service this month with a lot of support from industry leaders. The more companies that get behind this kind of strategy the better. We need to spread the talent around and grow cyber executives as fast as we can, and this is a practical way to combat the ever-growing threat around the world. Time is of the essence, and the market needs creative solutions to solve the problem.

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