W E L C O M E T O
CURRENT CYBER SECURITY, RISK & CONTROL FUNCTIONS REQUIREMENTS
Current Cyber Security, Risk & Control Functions require not only employees with Technical Skills but also staff who are creative, assertive, and flexible in fast changing business environments. In addition to individual Talent Management, which attracts and develops individuals, collective Talent Management ensures that an appropriate balance of talented people cooperate in the best way to realize effective Security & Risk Management.
CAPABILITIES IN CYBER
SECURITY, RISK &
Addressing the Neglected Priority for a Resilient and Agile Defense
The build-up of Talent-Management Capabilities within Cyber Security, Risk & Control Functions has often struggled to keep pace with the new demands. Despite the growing importance of these functions, there has been a misperception that enterprise value is only generated by the revenue-generating front line, neglecting the contribution of Security & Risk Functions in preventing losses. As a result, there has been a stronger emphasis on Talent-Management Initiatives & Capabilities in frontline departments, while the development of talent in Security, Risk & Control Functions has been overlooked.
HOWEVER, OUR FINDINGS REVEAL
In reality only a small minority of companies are close to realizing the ambition to conduct meaningful and effective Talent Programs in their Cyber Security & Risk Functions. Although some Larger Corporates have launched Dedicated Initiatives and started to put Talent Management in the spotlight, many companies are mostly lagging behind recommended practices and selectively have not focused on Talent Management at all in recent years.
AN IMPORTANT ISSUE TO MOST COMPANIES
INDIVIDUAL AND COLLECTIVE
Several widely accepted and applicable Strategic Talent-Management Initiatives need to be embraced by Cyber Security & Risk Functions. The ﬁrst few Initiatives focus primarily on enhancing Individual-Talent-Management Capabilities, while the last Initiative, targets mainly Collective Talent Management.
Banks and corporates alike need to strategically rethink their People-Management Approach in the Cyber Security & Risk Functions in order to enable sustainable change. For many companies there are several immediate important moves, including the following:
DEFINE TARGET REQUIREMENTS
Define Target Requirements on collective Talent Management for the Cyber Security & Risk Function; individual-Talent-Management Needs can be derived on this basis.
MAJOR TALENT DIAGNOSTICS
Perform an appropriate diagnostic along Major Talent-Management Dimensions to compare the company’s Talent-Management Capabilities with Industry Best Practices and the Company’s Own Target.
Perform a bottom-up transparency screening of the current workforce to Identify Patterns as well as Talent & Skill Gaps and to compare with Self-Defined Requirements.