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In our latest special episode of the Future of Threat Intelligence podcast, recorded at the Black Hat conference, we caught up with Jeffrey Wheatman, SVP, Cyber Risk Strategist at Black Kite. Jeffrey highlights the importance of aligning cybersecurity strategies with business objectives and understanding risk appetite.

He emphasizes the need for scenario planning to help decision-makers visualize potential risks and their impacts. Jeffrey also discusses the evolving landscape of cyber risk quantification, highlighting how improved communication of technology value can facilitate better business decisions.

Topics discussed:

• Understanding risk appetite is crucial for organizations to align cybersecurity strategies with overall business objectives and decision-making processes.

• Scenario planning enables decision-makers to visualize potential risks, fostering informed discussions about risk management and mitigation strategies.

• Cyber risk quantification is evolving, allowing organizations to better assess and communicate the impact of cybersecurity measures on business performance.

• Engaging with business leaders helps cybersecurity professionals understand what keeps them awake at night and prioritize risk management efforts.

• Regular assessments of vendor cybersecurity postures can help organizations manage risk more effectively and ensure compliance with their risk appetite.

• Building causal linkages between cybersecurity actions and business outcomes enhances the understanding of risk impact on organizational goals.

• Cybersecurity is fundamentally a business problem, requiring collaboration between technical teams and business leaders to limit risk exposure.

Key Takeaways:

• Define your organization's risk appetite to align cybersecurity strategies with business goals and facilitate informed decision-making.

• Implement scenario planning exercises to visualize potential risks and their impacts on business processes and objectives.

• Utilize cyber risk quantification tools to measure and communicate the business impact of cybersecurity investments and decisions.

• Establish a framework for causal linkages between cybersecurity actions and business outcomes to enhance risk management discussions.

• Facilitate tabletop exercises with decision-makers to simulate risk scenarios and improve organizational preparedness for potential cyber incidents.

• Gather data from vulnerability scans and security reports to support risk appetite discussions and inform risk management strategies.

• Promote a culture of collaboration between technical teams and business leaders to ensure cybersecurity is viewed as a business priority.