Cyber Core

High Demand for Cybersecurity Resources

As cyber threats become increasingly sophisticated, there is a rising demand for skilled cybersecurity professionals. This demand often outstrips supply, leaving organizations vulnerable and in need of reliable solutions.

Frequent Turnover in Cybersecurity Leadership

The cybersecurity sector sees significant turnover, especially in pivotal roles such as Chief Security Officers (CSOs). This turnover can lead to inconsistencies in cybersecurity strategies and vulnerabilities in organizational security.

Emerging Compliance Issues

With regulations evolving rapidly, organizations struggle to keep up with compliance demands, as they often lack the expertise and resources required to stay ahead of legal and regulatory changes.

The Need for Real-Time Status and Dashboard Reporting

Stakeholders, including boards and investors, increasingly require up-to-date information on an organization’s cybersecurity posture. This need for real-time data and reporting is becoming a critical aspect of organizational transparency and trust.

Single Point of Failure in Cybersecurity Leadership

The reliance on individual CSOs or cybersecurity leaders often creates a “single point of failure” in an organization’s cybersecurity strategy. This dependence can pose significant risks if not adequately addressed.

Outsourcing cybersecurity functions can offer a myriad of benefits. It provides access to a team of experts with diverse and specialized skill sets, ensures continuity in cybersecurity strategies despite changes in leadership, and helps in navigating the complex landscape of compliance issues. Moreover, it addresses the single point of failure issue by distributing the responsibility across a team rather than an individual, enhancing the overall security posture of the organization.

• Multi-Year Strategic Plan: Program charter, oversight committee, framework alignment
• Annual Tactical Work Plans: Annual plans within the multi-year strategy
• Current & Target State: Assess current state, define target state, integrate improvement needs to register
• Stakeholder: Reporting for investor and customer oversight
• Regulatory: Reporting for regulatory oversight
• Insurer: Reporting for insurer compliance requirements

• Does your organization have a long-term cybersecurity strategy?
• Has your organization had turnover on their cybersecurity team?
• Do you have a multi-year cybersecurity strategic roadmap?
• How is the status of your cybersecurity roadmap reported to stakeholders (regulators,
  insurers, investors, customers)?
• Do you know what your major information technology and cybersecurity investments
  look like for the next 3 years?

If you answered to no to any of these, we can help.

Situation

An organization is facing regulatory scrutiny, a class-action lawsuit, new requirements from its cybersecurity insurance provider, and stockholder scrutiny because of a recent data breach incident. The organization has experienced cybersecurity leadership change every two to three years and has not had a long-term strategic plan governing its cybersecurity program.

Approach

The client partners with LBMC Cyber Core to enhance its cybersecurity posture through a comprehensive approach. The engagement encompasses a thorough risk analysis, aiding in the development of a multi-year strategic roadmap. We help the organization with trusted cybersecurity standards, overseeing and coordinating improvement opportunities in response to data breaches, and ensuring compliance with regulatory, insurer, and stakeholder requirements. The establishment of core components for an effective cybersecurity program, validation of control effectiveness through technical testing (Advance Guard), and comprehensive reporting on strategic and tactical efforts are integral aspects of this partnership.

Outcome

After the organization engages the LBMC’s Cyber Core program, the Office of Civil Rights investigated and found that the organization had met the requirements of conducting a risk analysis and adequately responded to the analysis results. The class-action lawsuit was settled. The cybersecurity insurer found that the organization had implemented its recommended controls. Organizational board members and leadership now have confidence in the multi-year cybersecurity strategy developed by and coordinated by LBMC. The organization now aligns itself with a widely accepted cybersecurity framework and
relies less on cybersecurity leadership that changes every few years.

• Audit and Validation: Ensure that organizational controls are functioning effectively and validate compliance with regulatory, insurer, and stakeholder expectations.
• Business Protection Integration: Manage vulnerabilities, cyber defenses, and business process protections. Validate workforce effectiveness against threats.
• Current State Assessment & Target Establishment: Identify the current state of your program and risks. Establish continuous assessment and response programs.
• Foundation, Governance, & Program Management: Cybersecurity program charter, oversight committee, framework alignment, roles & responsibilities, multi-year strategic roadmap, annual tactical work plans, comprehensive improvement coordination.