Solving the Data Risk Puzzle
In the past two years, Focal Point has taken a particular interest in researching one critical piece of the risk puzzle: the breakdown in communication between security leaders and their boards of directors.
Most security and risk management business leaders are rightfully focused on identifying, describing and measuring technology risk. However, far too often, they fail to translate their findings from esoteric threat and risk measurements into actionable insights that business-minded executives and board members can use. Risk managers and security leaders report to the board on the issues that occupy their day-to-day world – the identification, protection, and recovery of data. But board members are more interested in holistic views of their companies’ risk profiles and compliance standing, and how those metrics impact decisions on risk mitigation and transfer (such as the decision to purchase cyber risk insurance).
This difference in approach creates a communication gap within the enterprise. To begin working toward a solution, Focal Point launched an innovative and in-depth research project, publishing its inaugural Cyber Balance Sheet Report in early 2017.
“It is high time that enterprises understand the specifics of data risks they face and start managing the risks more efficiently,” said Yvette Connor, Chief Risk Officer of Focal Point Data Risk.
It is high time that enterprises understand the specifics of data risks they face and start managing the risks more efficiently
Focal Point sees data risk as a business problem, not just a technology problem. And the solution requires much more than software. Focal Point helps organizations solve for data risk by building secure and flexible risk management programs that centralize risk visibility at the enterprise level for easier decision making. By giving business leaders a more complete picture of their risk posture, without the siloes that accompany traditional risk management, Focal Point enables organizations to make risk-based decisions that align with their short and long-term business strategy. This model also allows organizations to more easily manage security threats, compliance mandates, and complex IT initiatives.
But shifting long-held risk management norms takes a great deal of work. That’s why Focal Point continues to invest in building its team of experts, and expanding its presence across North America. Today, the company has more than 350 resources working from 17 offices in the US and Canada.
“Quality is our trademark, our client’s success is our success, and we believe that delivering solutions of the highest quality is the key to success. Our clients return year after year because we deliver results that exceed expectations and drive sustainable change,” Connor said.