Navigating the Rise of Cybersecurity GRC

The Rise of Cybersecurity GRC

The digital revolution has reshaped how organizations handle security and privacy, giving birth to the cybersecurity GRC function. This specialized team ensures that processes and policies are in place to manage and mitigate the risks associated with modern technologies and data use. But as emerging technologies are integrated into daily operations — and as regulations constantly change and evolve — navigating the GRC landscape is becoming more complex.

Cybersecurity GRC teams face multiple challenges, from staying up-to-date with regulatory changes to addressing the risks posed by new technologies like cloud computing, the Internet of Things (IoT), and artificial intelligence (AI). These challenges require innovative approaches to ensure compliance without sacrificing business agility.

Evolving Challenges in Cybersecurity GRC

One of the core functions of GRC is governance, which involves creating policies, standards, and oversight. New security regulations, such as PCI-DSS 4.0 or the SEC’s disclosure requirements for cybersecurity incidents, directly impact how organizations enforce these policies. Publicly traded companies, for instance, are now required to report material cybersecurity incidents to the SEC within just four days — a significant shift in expectations and response times.

On top of that, new regulations are being introduced annually, which forces cybersecurity GRC leaders to keep track of a constantly changing regulatory environment. Teams must meet industry-specific compliance standards, such as PCI for credit cards or HIPAA for healthcare, while also managing the introduction of emerging technologies like AI. Unfortunately, limited regulation exists for these new technologies, especially in the U.S. While frameworks like the National Institute of Standards and Technology’s (NIST) risk management framework provide some guidance, much of this territory remains uncharted. This creates additional pressure for organizations to proactively address potential gaps and develop comprehensive compliance strategies.

The Convergence of Technology and Compliance

As cybersecurity GRC teams work to integrate emerging technologies securely, they also face challenges in collaborating with other departments to enforce policies and ensure compliance. GRC teams don’t generate the data they rely on, so they must trust its accuracy and timeliness. Building and maintaining relationships with data owners is key to ensuring the integrity of the compliance process.

Additionally, there’s often a disconnect between the GRC team’s goals and those of the business. While GRC focuses on limiting liabilities, business units prioritize efficiency and growth. New controls can sometimes be seen as roadblocks to progress, making alignment across departments difficult. This tension highlights the importance of GRC teams working closely with the “three lines of defense”: the teams that operate controls, provide enabling capabilities, and conduct independent audits.

Getting Cybersecurity GRC Right

Success in cybersecurity GRC hinges on three critical elements: trust, accountability, and actionable data.

Trust in Data: Accurate, complete, and timely data is essential for making informed risk management decisions. Ongoing communication with data creators builds the rapport necessary for ensuring data reliability.
Accountability and Risk Appetite: With many stakeholders involved, accountability can become muddled. A clear structure that delineates responsibilities is vital for addressing compliance gaps and ensuring remediation.
Actionable Data: Cybersecurity GRC teams need to provide control owners and leadership with actionable insights. Reporting on control gaps with sufficient business context ensures that remediation efforts are aligned with business goals.

Where Growth and Security Converge

Cybersecurity GRC has emerged as its own discipline, tackling a constantly growing threat landscape and the demands of modern compliance. While there’s a perception that compliance is a burden, it can actually become a strategic advantage. By enabling secure policy development and enforcement, cybersecurity GRC teams can balance security with business growth, ensuring that organizations are prepared to meet both regulatory requirements and their broader objectives.

Ultimately, while cybersecurity GRC teams may face a difficult road ahead, they are essential business partners who help solve the complex problem of secure growth in a digital world.