Avoid Cybersecurity Silos when Developing a Risk Management Program

Seven Ways to Create a Holistic Risk Management Program

By Hunter Barrat

Cyber risks are evolving and becoming more sophisticated. To stay ahead of these threats, organizations of all sizes must work harder than ever to defend against bad actors.

Unfortunately, when organizations rely on a reactive approach to risk management, they can create cybersecurity silos caused by:

  • Communications breakdowns,
  • Lack of collaboration between internal departments, and
  • Lack of interconnectivity between the many products, tools, and services used across different business units to manage risk.

​This makes sharing risk data difficult, if not nearly impossible, and can leave a firm more vulnerable to costly cyberattacks. It also leads to an inefficient and expensive “whack-a-mole” strategy that wastes corporate resources by addressing risks as they pop up across an organization.

To avoid cybersecurity silos, TalaTek recommends organizations:

  1. Adopt a cybersecurity framework based on industry gold standards and best practices, such as the National Institute of Standards and Technology Cybersecurity Framework.
  2. Share cyber risk information across the organization.
  3. Define governance through risk and compliance goals aligned to business outcomes.
  4. Establish holistic/consistent cyber risk reporting and governance.
  5. Form security partnerships within the organization.
  6. Do not duplicate services for specific activities across the organization.
  7. Develop adaptable solutions to fit all work groups.

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