Prioritising and investing in cyber security has never been more paramount. The growth of data and analytics, now a US$5 trillion industry in its own right, as well as its utilisation across a range of other sectors has been exponential. Furthermore, with cybercrime also growing in terms of number, frequency and sophistication of attacks, Accenture (“Ninth Annual Cost of Cybercrime Study” – March 2019) estimates that the cost of cybercrime for an average organisation has risen by US$1.4 million to US$13 million in 2019, it is vital that organisations ensure its data and information remains secure and regulatory compliant.

The purpose of this report?

Against this backdrop it is unsurprising that demand for technology risk and cyber security talent, at all levels and all aspects of the function, remains in high demand. Nor is it surprising that the role, scope and positioning of the Chief Information Security Officer (CISO) continues to evolve.

 

Over the course of the last two months Leathwaite has interviewed incumbent CISOs with Asia Pacific responsibility from a range of industries including banking, asset management, insurance, virtual banking, healthcare, telecommunications, gaming, retail & hospitality, with the aim of better understanding the challenges and opportunities within the function.

Download the report here:

Online Paper extract:

Where does the CISO fit in the organisation – 

How the CISO is utilised and positioned varies widely across companies and industries. With the convergence of data, analytics and technology with corporate strategy and the increasing sophistication of cybercrime; the positioning of the function and subsequent perception of autonomy and empowerment remains a strongly contested point among CISOs and other governance and control leadership.

There is an overwhelming sense among CISO’s irrespective of industry sector, of being undervalued.

Despite multiple high-profile cyber breaches, CISOs in the region continue to highlight a lack of understanding of the role that the function plays in protecting and enabling revenue growth among the leadership team and a continuing struggle to quantify the function’s value to the wider organisation.

 

Author information:

The paper was researched and authored by Leathwaite Senior Associate, Eamon Dick.

Eamon is a Senior Associate in the Hong Kong office, focused on Leathwaite’s CIO & COO practice.

Prior to joining Leathwaite, Eamon spent 4 years at the Eximius Group as a Senior Consultant based in Hong Kong covering Asia Pacific, and working broadly across technology, operations, program / project managers, strategy and transformation. He was previously with Chandler Macleod Group covering financial technology.

Leathwaite is an Executive Search and Human Capital Specialist Firm, offering a range of C-Suite retained search, talent and leadership services with offices in London, New York, Hong Kong and Zurich.

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