If you’re a small or medium-sized business, you might have a need for an information security specialist – but the stark reality is – you might not have the budget to hire a full-time Chief Information Security Officer (vCISO). We get it, money doesn’t grow on trees!
But there is another option. Hiring a Virtual Chief Information Security Officer could offer the ideal solution to supercharge your security-strategy – without having to fork out for a full-time salary.
Read on to find out what a vCISO can do for you, whether you need one, how much it’ll cost you, and how to find a good’un.
VCISO is an abbreviation of Virtual Chief Information Security Officer.
There are many labels for the role of the vCISO. Here are a few that you may (or may not!) have come across:
A CISO is a senior-level executive who is responsible for the supervision and management of a company’s information, cyber, and technology security functions. The role of the CISO involves creating, implementing, and ensuring compliance with security policies with an overarching objective of safeguarding crucial data assets.What is a Virtual Chief Information Security Officer (vCISO)?
A vCISO is a cybersecurity expert with extensive experience who provides virtual, on-demand CISO services to businesses. A vCISO typically operates on a contract basis, offering guidance, expertise, and strategic direction in overseeing a company’s information security.
The role of a vCISO is similar to an in-house Chief Information Security Officer (CISO), with the benefit of being an external resource. The vCISO works closely with the organisation’s exec team, IT department, and other stakeholders to assess their risks, develop information security strategies, and implement security controls.
Do you handle sensitive data? Most businesses do these days, and if you’re serious about protecting that data (and your security posture), hiring a vCISO could be the right decision for you.
The role of a vCISO is to provide strategic direction, expertise, and guidance in managing an organisation’s information security. They are essentially acting as your Chief Information Security Officer. By collaborating with senior management and teams, the vCISO helps to set up efficient security measures, alleviate risks, and safeguard the company’s assets from cyber threats.
To achieve this, a vCISO will take on the following responsibilities (dependant on your organisation):
There are several reasons why your business may benefit from hiring a vCISO (virtual Chief Information Security Officer):
An experienced vCISO should know their stuff when it comes to information security. They know industry best practices and effective security measures inside out, and they can spot emerging threats before they have time to do serious damage. They can help your business navigate complex security challenges and make the informed decisions to keep your company secure.
Hiring a full-time, in-house CISO can be costly, especially for small to mid-sized businesses. Engaging a vCISO allows you to access high-level security expertise without the expense of a full-time salary and benefits. A vCISO typically works on a contract basis, providing flexibility and cost-efficiency.
A vCISO can develop an in-depth cybersecurity strategy taking your individual business needs into account, helping you prioritise projects in line with your objectives. They can assess your risk profile, identify weaknesses, and implement necessary security measures – such as internationally recognised certifications like ISO 27001.
As your business expands or experiences security issues, a vCISO is a flexible resource who can scale their services up or down to suit your requirements. This means that you will always have access to an information security expert, but on your terms, and only when you need it.
As an external resource, a vCISO brings an impartial perspective to your security plan. They can evaluate your security posture neutrally, identify gaps or vulnerabilities, and provide unbiased suggestions to improve your security setup. This is a great way to uncover blind spots that could go unnoticed internally.
Compliance with industry regulations and standards like ISO 27001 is essential for many businesses. A vCISO can ensure that you meet these requirements, adhere to regulations, and implement the appropriate controls to mitigate regulatory risks. They can also prepare you for external audits, based on their wealth of experience.
If a data breach or a security incident happens, a vCISO can play a vital role in incident response planning and implementation. They can offer guidance on containment, remediation, and communication strategies – mitigating the impact of the incident and protecting your business’s reputation.
A vCISO can create and conduct security awareness training programs for your teams. Here, they can educate your staff on policies, procedures and security best practices to encourage a security-conscious culture. This helps to reduce risks caused by human error and gives your security posture that all-important boost.
A vCISO is likely to have links to a network of valuable industry connections, security resources and threat intelligence sources, which means they should be clued up on the latest security trends, evolving threats, and technological developments. This puts your business ahead of the game when it comes to keeping on top of potential risks.
Hiring a vCISO should offer peace of mind that your business has an experienced expert managing and monitoring your information security. Their proficiency, advice, and forward-thinking approach will help you detect and tackle security risks effectively, reducing potential incidents and giving you confidence in your information security measures.
Engaging a vCISO can bring challenges. (Especially if you don’t do you research!) The most common difficulties include:
A vCISO may not understand your business and unique requirements as well as you do – which is why it’s important to find a good one! Good virtual CISO’s will take time to get to grips with your business processes, culture, and security needs.
As a virtual resource, they may not be as accessible as an in-house resource. It’s important to get a contract in place that suits both parties from the outset.
Whilst hiring a vCISO can be cost-effective compared to a full-time, in-house CISO, it can still be expensive (especially if you choose one who’s more interested in your hard-earned cash than your security posture!).
According to Security Intelligence, there’s a huge talent shortage in the cyber security space. Lucky for you, we’re going to recommend a good one. Keep reading!
According to Forbes Magazine, the average salary of a full-time CISO is around $584,000, making it completely out of reach for smaller businesses.
In comparison, you can hire a virtual CISO for a fraction of the cost. Boom! You’re back in the game! Let’s explore typical vCISO pricing:
These roles are not typically calculated on hourly rates, but broken down, this ranges between £100 and £250 per hour.
A vCISO day rate is between £750 and £1,500. This day rate typically depends on the number of days engaged and over what duration.
Expect to pay between £1,000 and £4,000 per month on a 12-month contract.
A good vCISO will be:
They will demonstrate:
They will:
You’ve now got a clear definition of what a vCISO will do. Now it’s time to trawl through Google for hours looking for the one that fits your business best. Or… you can choose to engage High Table: the information security people who give a sh*t about making your business secure.
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