Practitioner’s Corner: Turning Regulatory Compliance into Strategic Opportunity
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Cyber risk regulations like NIS2 and DORA in the EU, or PS21/3 in the UK, signal a seismic shift toward strengthening cyber resilience and enforcing accountability. Championing regulations is not just a matter of checking compliance boxes: it’s an opportunity to become a business leader. To enable growth and protect revenue.
This is the core belief behind our latest ebook: “A CISO’s Compliance Playbook: Strategies to meet NIS2, DORA, and PS21/3 requirements”. It was penned by our team of cyber risk advisors and industry experts to offer helpful definitions, practical advice, and recommendations to use throughout your journey towards regulatory compliance. In this article, we offer a glimpse into the wealth of insights captured in this ebook, which I strongly recommend every cybersecurity leader to download.
CISOs Leading the Charge Amid New Regulations
With more critical and visible roles, CISOs are responsible for measuring and reducing exposure, improving cybersecurity postures, building resilience, allocating resources for compliance, understanding third-party risks, and activating governance processes to maintain executive sponsorship.
Governments and regulatory bodies are now formally recognizing the importance of cybersecurity in safeguarding critical infrastructure and improving incident response to combat the knock-on impact of cyber threats to our digital economy.
We observe this trend globally—from the SEC disclosure requirements for publicly traded companies in the United States to APRA's CPS 234 for financial institutions in Australia or the Attack Surface Management (ASM) guidance introduced by the Cybersecurity Division of the Commerce and Information Policy Bureau of the Ministry of Economy, Trade and Industry of Japan (METI).
The ability to articulate and communicate an understanding of risks—and their impact on business operations—will prove to be competitive advantages.
"Organisations that demonstrate strong cybersecurity governance and leadership are better positioned to build and maintain trust with shareholders, regulators, and customers."
While some cybersecurity and compliance officers may view this as another obligation that diverts attention away from their day-to-day responsibilities, many are embracing this momentous occasion.
Rather than seeing these initiatives as challenges, think of them as strategic opportunities. These are some common misconceptions and how they could be viewed from a different perspective:
| Traditional Belief | Strategic Opportunity | |
|---|---|---|
| Cybersecurity management —and leadership— is perceived as solely focused on reducing risk. |
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By taking ownership of compliance initiatives, CISOs showcase their commitment to not just securing the organisation but also being accountable stewards of its digital assets. This enhances their credibility as business leaders. |
| Compliance is simply a checkbox exercise with no tangible business benefits. |
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Regulatory alignment supports broader business goals for competitive advantage, enhances market positioning, and increases credibility by demonstrating robust cybersecurity practices. This attracts customers who prioritize security-conscious partners. |
| Meeting regulatory requirements is not critical to business continuity. |
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Security teams ensure resilience by integrating compliance efforts with effective incident response and continuity planning, fostering cross-functional collaboration. |
| Executives and boards do not engage with cybersecurity talk. |
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The CISO can effectively communicate insights and benchmarks on cybersecurity maturity, becoming an indispensable advisor to top-level decision-makers. |
A CISO’s Compliance Playbook: Strategies to meet NIS2, DORA, and PS21/3 requirements
As you immerse yourself in this sneak peek of our playbook, know that this is just the tip of the iceberg. Dive into the full ebook to unravel more insights, including essential requirements, proven strategies, and a comprehensive checklist to assess your compliance readiness. Download the ebook now.
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Tim Grieveson Recognised as one of the UK Top 30 Security professionals by the CSO30 2023, Tim is an inspirational security leader and “Chief Storytelling Officer” helping organizations transform how they measure and manage cyber risk based on 25+ years of experience as a CSO, CISO, and CIO. |