The current approach to cybersecurity within the financial services industry is flawed. With regulations such as the new General Data Protection Regulation (GDPR) and New York State’s DFS Cybersecurity Regulation being enforced, putting ever greater pressure on data protection, combined with the fact that the financial services industry is one of the most targeted, regulatory and consumer eyes alike are firmly on financial institutions to improve their cybersecurity processes and models.

The job of the Chief Information Security Officer (CISO) has become challenging. As security has become a top-level concern for executive boards who are paying attention to the business impact of security, CISOs now have a seat at the table.