It is no surprise that about 60% of small businesses cite cybersecurity as a major concern, with the average cost of a data breach reaching $4.88 million in 2024, a total that only continues to grow annually.
That’s just one of the reasons that the Chief Information Security Officer, or CISO, position is so critical for small- to medium-sized businesses today. But what is a CISO in practice? The CISO meaning incorporates cybersecurity strategy, security policies, risk management, and information security. This position gets more and more important each year for businesses of all sizes.
CISO Meaning: What Does a CISO Do?
A Chief Information Security Officer’s high-level mission is to protect your organization’s digital assets, ensure compliance, and reduce cyber risks. A CISO is typically a senior executive with deep cybersecurity expertise who manages information security and works to prevent cyber threats.
While they all oversee some form of information technology, a CISO focuses on cybersecurity, while a Chief Information Officer (CIO) handles IT strategy and infrastructure, and a Chief Technology Officer (CTO) covers technology strategy and product development. These executives can work in harmony to provide a well-rounded security and technology strategy and platform.
Companies such as Trava Security also offer Virtual Chief Information Security Officer (vCISO) services, providing cybersecurity leadership and expertise without the cost of a full-time executive.
Core Responsibilities of a CISO
The key CISO responsibilities chiefly revolve around cybersecurity leadership and security risk management. This professional will be in charge of:
- Risk management and cybersecurity strategy: This critical function covers your organization’s strategy when it comes to identifying and reducing cyber threats as well as protecting data and digital assets.
- Policy creation and compliance oversight: Your Chief Information Security Officer will focus on developing and sharing cybersecurity policies for your organization. They will also be in charge of ensuring compliance with the latest laws and regulations.
- Incident response and business continuity planning: Another key job responsibility for CISOs is responding to incidents, such as data breaches and phishing attempts, and creating business continuity plans that keep your business running smoothly at all times.
- Reporting to the board and managing security teams: Based on all of the above roles and key responsibilities, your Chief Information Security Officer will report to your organization’s board of directors and be in charge of its security teams. Your CISO must be both a leader and a doer. This role should never be an afterthought.
In addition, your Chief Information Security Officer may also be in charge of budgeting for the department and coordinating security efforts with other business units.
Why Small Businesses Need a CISO
Sometimes, small businesses think they are too small to need a Chief Information Security Officer or worry about cybersecurity threats. However, cyberattacks target businesses of all sizes, and small businesses can be particularly vulnerable if they don’t have a strong security strategy. In fact, small businesses are three times more likely to be targeted by cyber thieves than their larger counterparts.
In addition, businesses are facing greater regulatory pressures today:
- Europe’s General Data Protection Regulation (GDPR) is now the toughest privacy and security law throughout the world, and it impacts any organization that collects data related to anyone in the European Union.
- In the United States, the U.S. Health Insurance Portability and Accountability Act (HIPAA) stringently protects patient privacy and secure health information. As these worldwide regulations grow, businesses must comply or face steep fines and penalties.
- Different states also have specific laws and regulations that businesses must adhere to and account for in their day-to-day operations.
Finally, your reputation and your customers’ trust are on the line every day. If your business makes headlines for data breaches and cyber attacks, you can lose face and lose business.
The role of a CISO can protect and bolster your business during everyday operations and challenging times. Small business cybersecurity is a must-have, not a nice-to-have.
Virtual CISO (vCISO): A Smarter Solution
Ideal for businesses that need expert cybersecurity leadership without the cost of a full-time executive, Virtual Chief Information Security Officers, or vCISOs, offer flexible, cost-effective, and experienced guidance to protect your small business. Scalable vCISO services are designed for small businesses seeking a trusted cybersecurity partner.
With vigilant guidance and expertise on demand, our vCISOs can adapt to your business and your challenges with cost-efficient solutions and cybersecurity expertise. For instance, Trava Security CISO support recently helped PureInsights, a small SaaS business, navigate cybersecurity and assist with customer InfoSec Assessments while addressing a major gap in the company’s cybersecurity insurance.
As PureInsight’s co-founder, Rick McGlinchey, recently shared, “We could never do this in-house. Trava gives us access to decades of expertise for a fraction of the cost of hiring internally. They’re a perfect match for us. They’re not just a vendor — they’re our go-to for everything cybersecurity. Whether it’s certification, insurance, or even those long customer assessments, they’ve made life so much easier for us.”
Trava’s Cybersecurity Leadership Aligns With Business Growth
CISO support can couple security strategy with business growth to support and safeguard your business, your employees, your clients, and your data.
Cybersecurity and compliance do not have to be a major challenge or an ongoing hassle for your small business. Trava’s flexible vCISO experts provide the strategic guidance, risk management, and tailored security solutions you need to protect your business and achieve compliance, without the cost of a full-time CISO.
Wondering if your business needs a CISO? Trava Security can help. Check out our Virtual Chief Information Security Officer services, including cyber risk management, compliance and privacy support, technical testing and evaluation, board and customer representation, and more.
Start protecting your business so you can focus on what you do best. Schedule a consultation today with Trava Security to learn more about cybersecurity leadership and support with a vCISO.
Sources
https://www.ibm.com/think/insights/cybersecurity-dominates-concerns-c-suite-small-businesses-nation