Conal Gallagher, the CIO at Flexera and its division Revenera, is responsible for managing IT and information security programs. In light of rapidly evolving cybersecurity regulations, businesses need to ensure that their security practices are in compliance with these rules. Often, there is a lack of ongoing dialogue between engineering, security teams, and finance in organizations, making coordination and integration a challenge. It is crucial for CIOs, CISOs, and other senior tech executives to facilitate effective communication and planning with other teams to ensure regulatory compliance and efficient responses to incidents.
It is essential for businesses to pay attention to regulatory developments in cybersecurity to stay up to date with guidelines and requirements. Recent developments, such as the SEC’s new rules mandating the disclosure of cybersecurity incidents in annual and incident reports, are challenging companies to adhere to these regulations. Compliance with these rules is crucial for maintaining revenue and customer trust. Professionals in the cybersecurity field are closely monitoring cyber events and regulatory compliance to ensure that businesses are prepared to meet these new requirements.
Accountability for cybersecurity initiatives is shifting within organizations, requiring everyone to play a role in maintaining security. Training becomes increasingly important for employees, especially developers who may not have received comprehensive security training during their education. Businesses must assess whether there are skills or education gaps among their developers and provide additional training on security best practices. Open-source program offices and cybersecurity teams can help guide these training initiatives to ensure that employees are prepared to address cybersecurity challenges effectively.
When it comes to regulatory compliance, personal liability is a concern for security teams if negligence is identified. Software self-attestation forms, signed by high-ranking executives, indicate that companies have followed security best practices and maintained control over their supply chain and code. Ensuring a secure environment, practicing due diligence in managing dependencies, and maintaining automated security vulnerability checks are essential components of a robust security program. It is crucial for individuals in leadership positions to understand the implications of regulatory compliance and take personal accountability for the security of their organizations.
Maintaining open lines of communication among security executives, management teams, legal counsel, and the entire organization is vital for staying informed about cybersecurity best practices and responding effectively to incidents. Collaboration and clear communication are key to avoiding cybersecurity breaches and ensuring a coordinated response when incidents occur. By staying informed about regulatory developments, providing necessary training, taking personal responsibility, and fostering open communication within the organization, businesses can enhance their cybersecurity posture and navigate the evolving regulatory landscape with confidence.
