Principles of an Effective Cybersecurity Strategy

According to MetricStream’s, ‘The State of Cyber Security in the Financial Services Industry’ report, around 66 percent of financial services institutions have faced at least one cyber-attack in the last 12 months. The cost of this can even result in a complete shutdown of the business."

Click To See - 10 Live Hacking Tracking Maps

Cloudbuilding – Multiple personalities preferred

Cloudbuilding – multiple personalities preferred

We have arrived to the point where our quest for understanding the terrain has provided us with a map, compass and a potential destination. You are now at the ”make it or break it-”point. Drawing up a credible implementation plan is a demanding task, not for the faint-hearted. I have dubbed this role ”Cloud Maestro”. The sketch below gives a good overview of the multidisciplinary skills the Maestro must possess.

What are the Deliverables?

A viable implementation plan, based on the strategic direction decided upon after the Strategy Safari, must at least include:

·       A SWOT analysis

·       Terms of reference & Technical solution

·       Financial analysis: Cost-Benefit, ROI and new TCO

·       Legal & regulatory considerations: PII, PCI DSS, SOX, COBIT

·       Alignment of operations

·       Identity, access control, access privilege management and auditing guide

·       Business Continuity Plans

·       Data formats, interoperability APIs, Portability guidelines.

One change leader is required to drive the process, deliver results, inspire the users, build confidence with senior leaders and truly believe in the mission. Most enterprises have long experience from out- and/or multisourcing its IT functions. And there are many skills that can be applied. But, there are also crucial differences when it comes to ”Cloudsourcing”.

My next article will focus on things made easier with cloud agreements and things that got a little more messy and challenging.

By Predrag Mitrovic of CloudTweaks

Predrag is also the Chief Inspiration Officer and Owner of MyNethouse.se.

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