How to Use 3 Key Vulnerability Assessments to Present Cyber Security Threats
Board members are increasingly recognizing cybersecurity as a top concern. Harvard Business Review surveyed 600 directors and found that 76% of board members believe they have made adequate investments in cybersecurity. Still, a growing consensus is that many boards need more cybersecurity expertise to provide proper oversight. There’s an increased awareness of the need for board communication in cybersecurity to play a more active role in oversight, with cybersecurity conversations now considered the most crucial topic for the board after strategic planning. 
In a CNBC article, cybersecurity thought leader Larry Whiteside said: ”Many CISOs have grown up as technologists and are accustomed to speaking very technically. And that’s not a bad thing for the right audience, which is usually the cybersecurity or IT team. However, in a boardroom, speaking in a language and utilizing terms that the board will understand is crucial to getting their point across in a meaningful way.” Chief Information Security Officers (CISOs) must translate technical language into business terms by demonstrating how cybersecurity efforts contribute to the organization’s overall risk management strategy, financial stability, and compliance with laws and regulations.
This requires presenting cybersecurity metrics and initiatives in a way that highlights their impact on business objectives and risk mitigation. This is important for two main reasons:
- Align security with business goals
CISOs help board members understand how these efforts protect critical assets, ensuring the company’s digital operations align with its overall business objectives.
- Supports informed decision-making
CISOs use cybersecurity metrics as a powerful tool to justify new costs and investments essential for an organization. They alleviate concerns about unnecessary expenses on security measures or prioritizing one investment over another.
These metrics offer a comprehensive view of the organization’s cyber health, informing strategic decisions about resource allocation, third-party risks, incident recovery, and employee training.
The Role of Cybersecurity Metrics in Business Strategy: Understanding the Board’s Perspective
Reporting and providing context on cybersecurity metrics is an essential job for CISOs. “Just 69% of responding board members see eye-to-eye with their chief information security officers (CISOs).” – Harvard Business Review. CISOs must take intricate and technical aspects of information security metrics and transform them into a digestible format that aligns with the board’s strategic objectives and concerns. Knowing their three primary concerns is an excellent place to start:
- Regulatory Compliance
- Risk Management
- Financial Impact
By communicating in a simple manner, the board can get an understanding of:
- How the organization is protecting itself from cyber threats
- What could happen to the business if risks are not handled
- Congruence with regulations and compliance standards
It’s making cybersecurity not just an IT issue, but a boardroom priority.
Presenting Cybersecurity Threats: Bridging the Gap Between IT and Business Strategy
1. Connect Cyber Risks to Business Impact
The goal of your presentation is to resonate with board members. To do that, you must relate the cyber security risks to the organization’s overall business impact. IBM discovered that the average cost of a data breach in the United States in 2023 was $4.45 million. By highlighting risk management, regulatory compliance, and the financial impact of a cyber incident, you can effectively communicate how cyber security plays a role in sustaining a thriving organization. Some ways may include:
- How cyber threats can interrupt business operations, leading to direct financial losses and affecting long-term strategic goals.
- Financial penalties and operational restrictions result from failing to adhere to industry regulations, impacting the company’s market position and legal standing.
- Direct costs associated with data breaches, such as incident response expenses, alongside indirect costs like customer churn due to diminished trust.
2. Visual Aids
Visualizations like charts and graphs simplify board communication in cybersecurity. These tools turn complicated data into easy-to-understand images, making it quicker for board members to see what’s at stake and decide on actions. For example, you might use:
- Graphs that show the trend and risk of different cyber threats over time.
- A dashboard that compiles various cybersecurity metrics (such as the number of attempted attacks, successful breaches, and unresolved vulnerabilities).
- A chart that compares the organization’s cybersecurity metrics against industry averages or benchmarks can highlight where the company stands in comparison.
3. Use Simple Language
When talking to the board, leaving out the tech talk is critical. Use easy-to-understand terms and comparisons that they can quickly get. This way, they can catch on to complex security topics and make intelligent choices without getting lost in IT talk. For instance:
- Use “Secure Wi-Fi” instead of “Encrypted Wireless Networks.
- Use “Unauthorized Software” instead of “Shadow IT.”
Making these changes helps clarify your points and helps board members see why managing cybersecurity risks matters.
4. Vulnerability Assessments to Identify Security Weaknesses
Your board wants to hear about the risks you’re currently facing in your organization. If an investment in new technology or tools is needed, these risks will allow your board to understand and justify investing in change. A vulnerability assessment is a step-by-step process that involves identifying, quantifying, and ranking different cyber vulnerabilities. It involves scanning a system, software, or network to find out the weaknesses and loopholes that attackers can exploit.
Three Key Vulnerability Assessments to Present Cyber Security Threats to Board Members
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1. Wireless Assessment
A wireless assessment identifies, analyzes, and evaluates vulnerabilities within wireless networks. It looks at wireless security measures and detects vulnerabilities that can be exploited by cyber attacks. Such as:
- Unauthorized access points
- Weak encryption methods
- Susceptibility to attacks like eavesdropping or spoofing
2. Network Assessment
A network assessment is the process of scanning devices on a network from a remote location to identify vulnerabilities. This assesses the security posture of network devices. Such as:
- Routers
- Switches
- Firewalls
- System connected to the network
The goal of a network assessment is to detect security weaknesses that could be exploited by cyber attackers. These are scans that typically use automated tools to examine the network for vulnerabilities. And they provide a comprehensive view of any current security risks.
3. Host Assessment
A host assessment identifies cyber vulnerabilities of individual hosts. Such as:
- Servers
- Workstations
- And other network devices
It identifies security weaknesses that cyber attackers could exploit by examining the operating system, the software installed, and how the system is configured. Unlike network-based scans, host-based scans provide a detailed view of the vulnerabilities within each host. Including security weaknesses that might not be visible or accessible from the network. These scans are critical for uncovering vulnerabilities such as:
- Unpatched software
- Insecure system settings
- Permissions that could allow unauthorized access or privilege escalation.
How to Use Vulnerability Assessments to Present Cybersecurity Metrics to Board Members
Systems are getting more and more complex each day. This leads to more vulnerabilities that CISO’s need to stay on top of. It’s better to find out what your vulnerabilities are in advance. Because attackers will use any vulnerabilities to exploit systems. Vulnerability assessments provide CISO’s detailed information board members need to make informed decisions. A list of security weaknesses in order of risk and recommendations for improvements to present to board members.
The Strategic Value Of Vulnerability Assessments in Cyber Security Metrics
Cybersecurity is a complex and dynamic issue since the possibility of a cyber incident is not an “if” but a “when.” Board members and CISOs need to stay vigilant and see eye-to-eye with emerging cyber threats. It’s crucial to bridge this communication gap to ensure the board understands and acknowledges the significance and value of cybersecurity.
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Our free Quick Assessment tool evaluates how prepared you are to secure your data against threat actors and your ability to respond when they do attack. The best part? It doesn’t take more than 30 seconds.