In recent years, the task of safeguarding businesses against cyber threats and ensuring compliance with security standards has become increasingly challenging. Unlike larger corporations that typically employ Chief Information Security Officers (CISOs) for handling such issues, smaller businesses often lack this dedicated role due to either a perceived lack of necessity or budget constraints.
The growing difficulty in justifying the absence of a CISO has led many businesses without one to adopt a virtual CISO (vCISO) model. Also known as fractional CISO or CISO-as-a-service, a vCISO is typically an outsourced security expert working part-time to assist businesses in securing their infrastructure, data, personnel, and customers. Depending on the company's requirements, vCISOs can operate on-site or remotely, providing both short-term and long-term solutions.
Various factors contribute to the increasing adoption of vCISOs. It may be prompted by internal crises such as the unexpected resignation of a CISO, the need to comply with new regulations, or adherence to cybersecurity frameworks like NIST's Cybersecurity Framework 2.0 expected in 2024. Additionally, board members accustomed to CISO briefings may request the engagement of a vCISO.
Russell Eubanks, a vCISO and faculty member at IANS Research, emphasizes the importance of flexibility in vCISO engagements, tailoring the delivery model to match the specific needs of a company, whether for a few days or 40 hours a week.
The vCISO model is not limited to smaller businesses; it also finds applicability in industries such as software-as-a-service (SaaS), manufacturing, industrial, and healthcare. However, opinions differ regarding its suitability in the heavily regulated financial sector, where some argue in favor of full-time CISOs.
Key responsibilities of vCISOs include governance, risk, and compliance (GRC), strategic planning, and enhancing security maturity. These experts possess a comprehensive understanding of cyber risk, technology, and business operations, enabling them to orchestrate effective security strategies.
Experienced vCISOs often play advisory roles, assisting CEOs, CFOs, CIOs, CTOs, and CISOs in understanding priorities, assessing technology configurations, and addressing potential cybersecurity vulnerabilities. Some vCISOs even assist in defining the CISO role within a company, preparing the groundwork for a permanent CISO to take over.
When seeking a vCISO, companies have various options, including industry experts, large consulting firms, boutique firms specializing in vCISO services, and managed services providers. The critical factor in selecting a vCISO is ensuring that the candidate has prior experience as a CISO, preferably within the same industry as the hiring company.
The process of finding the right vCISO involves understanding the company's needs, defining the scope and outcome expectations clearly, and vetting candidates based on their industry familiarity and experience. While compatibility with the company's size and vertical is essential, the right vCISO can outweigh some of these considerations. Rushing the selection process is discouraged, with experts emphasizing the importance of taking the time to find the right fit to avoid potential mismatches.