The Chief Information Security Officer (CISO) plays a pivotal role within the framework of most organizations. Endowed with the responsibility of establishing and upholding the organizational vision, strategy, and program to ensure the safeguarding of information technology assets, the CISO stands as the primary line of defense against potential data breaches and malware infections. This heightened responsibility often correlates with substantial salaries and heightened expectations. Over the past decade, a growing number of organizations have opted for a strategic approach by incorporating a virtual CISO (vCISO) to either fill the CISO role or complement the existing structure.
A virtual CISO is an outsourced security practitioner or firm that extends its services by offering security professionals to fulfill the responsibilities of the CISO role. This is typically executed through the utilization of more than one individual and operates on a remote, part-time basis. Among the firms providing such innovative solutions, Compass IT Compliance stands out by offering virtual CISO services and currently serving numerous clients across the United States. The surge in popularity of virtual CISOs over the past decade is attributed to the myriad benefits that this solution brings to the table.
Lower Costs: One of the most significant advantages of engaging a virtual CISO is the substantial cost savings it provides. Full-time traditional CISOs, holding senior roles within organizations, report to the executive board and often command six-figure salaries. In addition to these salaries, there are additional costs associated with the search and hiring process for such experienced individuals, especially when recruiting through external agencies. While the costs of virtual CISOs may vary based on specific organizational needs, on average, they prove to be 30% – 40% less expensive than their traditional counterparts on an annual basis. Importantly, virtual CISOs require none of the full-time staff benefits. Over time, the costs of virtual CISOs tend to decrease as they initially invest more hours in analyzing the IT security situation, establishing policies, and procedures. Subsequently, most engagements enter a maintenance mode that necessitates fewer hours and, consequently, reduces costs for the organization. This stands in contrast to traditional CISOs, who would not be amenable to a reduction in their salary even if there is a decrease in workload.
More Collective Expertise: As previously alluded to, virtual CISO roles are typically fulfilled by firms that leverage a team of security professionals to meet the specific CISO needs of client organizations. In the case of Compass IT Compliance, their team comprises IT security, audit, and compliance professionals who are always on standby, ready to respond to client requests. Possessing numerous certifications such as CISSP, CISM, CISA, and extensive experience with relevant standards, frameworks, and regulations including NIST, PCI-DSS, and HIPAA, this team brings a wealth of collective expertise. Operating under the team approach of a virtual CISO, this collaborative effort ensures that there are few security challenges this team cannot overcome. This stands in stark contrast to the traditional model of having a single full-time CISO.
No Conflict of Interest: When an organization hires a full-time CISO, that individual becomes an integral part of the staff, integrating with coworkers, systems, and the organizational culture. While this integration is beneficial for fostering a sense of belonging and unity, it can potentially lead to situations of conflict of interest or bias, particularly for a CISO. A full-time CISO might feel inclined to consistently align with executive IT security recommendations to maintain a harmonious working relationship. On the other hand, a virtual CISO operates with less fear of disagreement with executives, as their compensation is provided by the service provider firm rather than the client organization. Many organizations without dedicated CISOs often assign security responsibilities to the Chief Information Officer (CIO) or IT Manager. This practice can also result in conflicts of interest, as these individuals may prioritize the speed and ease of IT functionality as high-priority goals and make security decisions based on these considerations alone. Additionally, an existing full-time CISO may exhibit bias towards solutions they have used in the past. While prior experience should undoubtedly be taken into account, there are instances where a CISO may overlook a superior security solution in favor of one they are familiar with and have used previously. With a virtual CISO, organizations benefit from a team of professionals, each possessing their own prior experiences and perspectives on solutions. The collective decision-making of this team results in less bias towards one solution or another and a greater focus on identifying the best possible solutions.
Faster Onboarding: As highlighted earlier, organizations without a CISO or those transitioning between CISOs face both time and cost implications when seeking a new individual for the role. This process involves reviewing numerous applications, vetting candidates, and negotiating salary, in addition to the potential need for training on specific programs and the organizational environment. Conversely, the onboarding costs and times associated with a virtual CISO are often considerably less. Virtual CISO firms maintain professionals on standby, ready to hit the ground running. In most cases, these firms can also provide resumes and certifications for all staff participating in the virtual CISO role. Furthermore, virtual CISOs may require less training due to their extensive collective experience with various environments and programs.
Staffing and Budget Flexibility: Beyond being faster to implement, virtual CISOs offer a high degree of scalability. Organizations can budget for a specific amount of weekly hours in one quarter and then scale down those weekly hours in the following quarter. Unlike a full-time CISO, who may be reluctant to agree to such fluctuations in compensation, virtual CISOs offer the flexibility of a pay-as-you-go model. This enables organizations to pay for the hours and responsibilities they need, allowing for adjustments based on specific project requirements or transitional periods between previous CISOs leaving and new hires coming on board. Additionally, the engagement with virtual CISOs involves no complications associated with termination, providing organizations with the ease of ending the engagement without the challenges associated with letting go of a full-time staff member.
Resources Already Created: An often overlooked yet significant benefit of engaging a virtual CISO is the array of resources they bring to the table. In the case of Compass IT Compliance, their virtual CISO service includes a library of documents and tools that can be immediately implemented within an organization. These tools have undergone real-world testing and cover a range of areas including policies and procedures, vendor risk management, business continuity plan testing, incident response plans, and asset management, among others. All of these tools, which would otherwise demand considerable time and effort for a new CISO to create, are readily available through a virtual CISO service.
Filling Out Security Questionnaires: For those who have worked in IT security roles, the familiar challenge of dealing with security questionnaires is well-known. These questionnaires are typically sent to organizations by customers or partners seeking assurance that they are working with a firm capable of properly protecting their data. With the increasing prevalence of vendor-related breaches, these questionnaires have become more commonplace across various industries. These documents often include dozens to hundreds of questions regarding an organization’s IT security controls and practices, frequently necessitating follow-up clarification questions to the sender. As many are aware, these questionnaires can be exceedingly time-consuming. A virtual CISO can step in and assume the responsibility of responding to such questionnaires, thereby saving valuable time and effort for the organization’s team. This can also potentially free up the existing CISO for more urgent and critical projects.
In the ever-evolving technological landscape, the role of the CISO remains critical to the success of any organization. With the emergence and growing acceptance of virtual CISO solutions, organizations now have the flexibility to customize their CISO role to achieve significantly lower costs, enhanced control over spending, access to a team of professionals with diverse backgrounds, faster onboarding processes, complementary efforts to existing staff, avoidance of conflicts of interest or bias, and an increased number of vigilant eyes overseeing the security of the organization. While virtual CISO solutions are particularly well-suited for small to medium-sized organizations, the benefits extend to large organizations as well. For more detailed information on virtual CISO solutions, including pricing and suitability for your organization, we invite you to reach out to us today. Our team is dedicated to providing insights and guidance to help you navigate the dynamic landscape of information security.
