AKF Partners

Abbott, Keeven & Fisher PartnersPartners In Hyper Growth

AKF is launching an Information Security Service for Clients

In today’s digital world, cyber security is one of the biggest areas that keep CEOs and business executives awake at night. Further, regulation and compliance are continually changing, as both governments and customers are modifying the rules in an attempt to keep pace with rapid changes in technology. Keeping up with these changes in regulation, and particularly how they will apply to your business, is a monumental challenge. As a very recent example, if you operate in both the U.S. and Europe, you’re probably familiar with Safe Harbor (https://en.wikipedia.org/wiki/International_Safe_Harbor_Privacy_Principles). Up until mid 2015, Safe Harbor permitted U.S. companies to store EU customer data on U.S. soil, so long as the infrastructure and usage met the privacy standards of the Safe Harbor Act. However, in October 2015, courts struck down the US-EU Safe Harbor agreement, leaving companies again wondering what approach they should take. Then on Feb 29, 2016, the European Commission introduced the EU-US Privacy Shield (http://europa.eu/rapid/press-release_IP-16-433_en.htm), which is similar to Safe Harbor but, in conjunction with the Judicial Redress Act signed by President Obama, extends the ability of European citizens to challenge U.S. companies that store sensitive personal information. With the changes coming quickly and furiously, what is your company to do?

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In addition to those challenges, customers today put more and more demand on companies to not only protect sensitive customer data and IP, but many customers DO expect you to store and process sensitive data in a highly available and scalable manner. Balancing the needs of maintaining data on behalf of customers with regulation and compliance is one of the biggest challenges for any modern company, whether you store or process sensitive data for your customers or not. Sometimes just operating in a regulated industry subjects your company to the long reaches of compliance standards.

Finally, who is in charge of security in your company? Is it spread across teams? Is there a single CSO/CISO and security organization? How well do the security organizations work with your technology and business teams?

Our clients ask us frequently if we can assess their security programs and help develop plans for them, similar to the work we do with system architecture and product development. At AKF, we look at security the same way we look at availability and scaling. It is about managing risk. You can build a system that has nearly 100% availability, and you can build a system that scales nearly infinitely… but you don’t always need to, as it’s not always the most cost-effective way to run your business.

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You want to build a system that achieves very high availability, up to the point where the cost of “near perfect” availability exceeds the value it brings to the business. Similarly, you may never be able to completely eliminate each and every risk to your information security. Some industries, like health care and credit card processors, need to be “near perfect.” But other may not need to be quite as perfect. Some may just require that you have ample controls, tightly monitored systems, secure coding practices, and top notch Security Incident Response plans.

Finally, there are plenty of overlaps in regulations that if applied once, can solve several of your security compliance concerns. For example, PCI, SOX, and HIPAA all have requirements about audibility and accessibility, although they apply to different types of data. If you’re subject to more than one of those, why not put controls in place that help solve them for ANY regulation?

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We have begun a new program to help our clients with their security needs. Our approach is to help you understand your regulation and compliance landscape, look at the security measures you’ve put in place, and work with you to design a program and projects to close the gaps, focusing on the highest value projects first. We’ll also help you understand where security fits into your organization, and guide you on how to break down barriers that prevent organizations from working cohesively to manage security across the enterprise.

If you are interested in our security program services, please contact us.