My first SOC 2 audit as a Chief Technology Officer felt like performance art. Here we were, dancing to the tune of an auditor that had never built a web application, let alone a business. So many of their playbooks were repeated from other businesses and didn’t make us more secure. When we were done I was certainly glad to show off our new ‘certification’ but I wondered how I could implement great security and create value for my company.

In this compelling episode of Secure Talk, host Justin interviews Bob Chaput, a seasoned CISO and cybersecurity leader with a rich background in the healthcare sector. The conversation traverses Bob’s extensive career, from his early days at GE to establishing Johnson & Johnson’s first information security program. Bob shares profound insights from his book, 'Cyber Risk Management as a Value Creator,' illustrating the shift of cybersecurity from a defensive necessity to a strategic business driver. They explore the critical role of governance, regulatory accountability, and the implementation of risk management frameworks like the NIST cybersecurity framework. Using real-world cases like Equifax’s post-breach recovery, Bob elucidates the tangible business value of robust cybersecurity measures. Learn about budgeting for cybersecurity, fostering organizational engagement, and integrating security into business operations for enhanced resilience and customer trust. This episode is a treasure trove for experts looking to transform their cybersecurity approach into a strategic advantage.

Book:  Enterprise Cyber Risk Management as a Value Creator 
https://bobchaput.com/enterprise-cyber-risk-management-as-a-value-creator/

00:00 Welcome to SecureTalk: Introduction and Host Overview

00:41 The Importance of Scope in Cybersecurity

02:58 Introducing Bob Chaput: Cybersecurity Expert

04:45 Bob Chaput's Career Journey

08:17 Enterprise Cyber Risk Management as a Value Creator

12:20 The Role of Regulations and Accountability in Cybersecurity

17:26 Strategic Approach to Enterprise Cyber Risk Management

21:33 Risk and Opportunity Assessment in Cybersecurity

26:47 Leveraging Security Practices for Business Value

27:58 The Impact of Cybersecurity on Business Value

28:56 Clearwater's Role in Enhancing Cybersecurity

31:03 The ECRM Budget Philosophy

32:59 Maxims for Effective Cyber Risk Management

35:59 Building a Team Sport Culture in Cybersecurity

40:47 Foundational Components of ECRM

44:19 Challenges in Third-Party Risk Management

49:25 Clearwater's Journey and Future Prospects