What You Need to Know About Digital Risk Officers

What You Need to Know About Digital Risk Officers

CEOs to Hire Digital LeadersCEOs to Hire Digital Leaders

More than half of CEOs will have a senior digital leader on their staff by the end of 2015, according to Gartner’s 2014 CEO survey.

Expanding IT Security is InsufficientExpanding IT Security is Insufficient

Just expanding your portfolio of IT security to include technology risk for all Internet-aware technology is not enough. Skills and tools beyond the competence of the IT security team will be managed outside the IT department.

Enduring a Major Service FailureEnduring a Major Service Failure

By 2020, 60% of digital businesses will suffer a major service failure due to the inability of the IT security team to manage digital risk when it comes to new technologies.

The Emergence of Digital Risk OfficersThe Emergence of Digital Risk Officers

The DRO will start to emerge in the enterprise in 2015. DROs will need skills in the IoT, operational technology, physical security, privacy and digital marketing spaces.

Digital Risk Officers in 2017Digital Risk Officers in 2017

By 2017, one-third of large enterprises engaged in digital businesses will have a DRO or the equivalent officer.

Needed DRO SkillsNeeded DRO Skills

New skills, beyond those of today’s Chief Security Officers, will be in demand. In security, for example, DROs will need to know about: Network and endpoint security, Security concerns in the integration of IT and operational technology, Embedded software and system security, Machine-to-machine security, Identity and access management across the business where digital identities are related to civil and social identities, Physical security management

A New Approach to Digital RiskA New Approach to Digital Risk

A unified and consistent approach to digital risk could deliver cost-efficiencies and improved risk insurance for businesses better than the fragmented approaches currently used by most enterprises.

Required Digital Risk Management CapabilitiesRequired Digital Risk Management Capabilities

The Gartner report suggests the deconstruction and re-engineering of current organizational structures, the allocation of responsibility, and the development of new capabilities in security and risk assessment, monitoring, analysis, and control.

Needed Risk Management SkillsNeeded Risk Management Skills

In-demand risk management skills will include risk management processes, risk assessments that span digital business models end-to-end, and risk management that supports decision-making at the senior executive level.

Innovation and Risk AssessmentsInnovation and Risk Assessments

DROs should investigate how digital innovation will change key business leaders’ tolerance of risk in the enterprise.

Karen A. Frenkel
Karen A. Frenkel
Karen A. Frenkel is a contributor to CIO Insight. She covers cybersecurity topics such as digital transformation, vulnerabilities, phishing, malware, and information governance.

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