When business leaders are asked what’s keeping them up at night, one of the things near the top of the list is cybersecurity. In the past, this has solely been the realm of the IT department, but that is no longer the case. CFOs are finding themselves in the middle of these discussions and for good reason.
CFOs are tasked with improving profitability and increasing cash flow, but a huge part of their responsibility includes mitigating risk, and risk includes cyberattacks. CFOs must take on a more robust role in keeping their businesses safe from attack, and they are in a unique position to do so.
CFOs can:
help their senior leadership team understand the risk priorities and how they can be balanced with security controls – a cyber-aware culture starts at the top.
partner with the IT department to design and implement the security strategy, while retaining a sense of agility to adapt plans in a changing landscape.
partner with HR to ensure each staff member understands the risks, and what steps all employees can take to protect the company.
CFOs always weigh costs vs risk, and security decisions should be made with insight and collaboration. After all, the most important role for a CFO is to protect the bottom line.