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IBM Global Technology Services




Five IT risk management practices of
companies with excellent reputations
How security and business continuity can shape the reputation and
value of your company




                                                                    © 2012 IBM Corporation
Today’s speaker
                Philip Kibler
                IBM, GTS Director Cyber Security Assessment and Response


                Phil has 31 years of IT experience and has led IBM Professional Security Services
                business since 2007. Recently he has been focusing on Cyber Threats and
                Intelligence and marshaling the resources of the IBM Corporation to support clients
                globally to deal with the growing Cyber Storm.



    Definition of IT risk and reputational risk
    Findings from 2012 Reputational Risk Study

    Financial implications of security breaches

    Recovery from reputational damage

    Five characteristics of companies with excellent reputations

    Ten essential practices…how they can help


2                                                                                         © 2012 IBM Corporation
Reputational risk and IT:


What is reputational risk and why you should care?



                Reputational risk:
                            a type of risk related to the trustworthiness of
                            business. Damage to a firm's reputation can result
                            in lost revenue or destruction of shareholder value,
                            even if the company is not found guilty of a crime.
                            Reputational risk can be a matter of corporate trust,
                            but serves also as a tool in crisis prevention.
                                           Source: http://en.wikipedia.org/wiki/Reputational_risk




                                   Equation taken from - International Centre for Financial Regulation



3                                                                                                        © 2012 IBM Corporation
Reputational risk and IT:


How do we define IT risk?


    IT risk is comprised of a number of core
    components:
                    Security and privacy
                    Business continuity and disaster recovery
                    IT compliance
                    Supply chain
                    Business transformation
                    Product assurance




4                                                               © 2012 IBM Corporation
Reputational risk and IT: introduction


To find out where and how IT makes its biggest impact on
reputational risk, IBM conducted a worldwide study.

                                         #1   IT risks have a major impact on a company’s
                                              reputation

                                         #2   Companies have rising IT risk concerns related to
                                              emerging technology trends e.g cloud, social
                                              media

                                         #3   Companies are integrating IT risk and
                                              reputational risk management, with strongest
                                              focus on threats to data and systems

                                               Study demographics
                                                  Conducted by Economist Intelligence
                                                  Unit, paid for by IBM
                                                  427 respondents from around the world
                                                  23 industries
                                                  15 job titles
                                                  Company sizes <$500M to >$10B
5                                                                                         © 2012 IBM Corporation
IBM factors reputational risk into the domain of IT security risk.


 Risk exists when …



  Threat                      Vulnerability                         Impact

                Can exploit                        And cause

  (Actor)                        (Weakness)                           (Loss)



Security Risk Management is the application of control to detect
 and block the threat, to detect and fix a vulnerability, or to respond
 to incidents (impacts) when all else fails. Reputational risk
 becomes a factor in the evaluation of the potential impact



                                                                               © 2012 IBM Corporation
Reputational risk and IT: what you can do now


The study identified the 5 key characteristics of companies reporting
excellent reputations.

    1    Defining Characteristic: Have a special emphasis on reputational risk with the support of
          senior management and have effective escalation and reporting process

        83%81%                   84%                                                        83%
                                                       78%
                                                                                                 71%
                    64%                 63%
                                                          59%           58%

                                                                                                     42%
                                                                             38%
           2                                                   36%
                                                                                33%
                                      3         28%
                                                          4
                                                                           5
    Integrate IT into            Have strong/         Have adequate      Very                Are very confident/
    reputational risk             very strong             IT risk    strenuously             confident in IT risk
      management                    IT risk            management require supply            management related
                                 management              funding    chain to match          to data breach/data
                                   capacity                           standards
                                                                                                    theft
7          Organizations reporting their reputation as:   Excellent   Very good   Average or worse     © 2012 IBM Corporation
Reputational risk and IT Study: security findings


In the recent IBM reputational risk and IT study, security factors are
ranked #1 among IT risks that can cause reputational harm.



                                                    of respondents included data breaches, data
                                                    theft and cybercrime among the IT risks that
                                                    are most harmful to reputation




                      of respondents identify                        of respondents very
                      and manage reputational                        strenuously require third-
                      risk as part of their IT                       party sources to match
                      security operations                            their level of IT security


8                                                                                                 © 2012 IBM Corporation
Reputational risk and IT: perception vs. reality


There seems to be a mismatch between how well companies rate
their reputation and how well they are protecting it.



                                                                   80%       rate reputation
                                                                             as excellent or
                                                                             very good




17% rate their company’s overall ability to
                            manage IT risk as very strong




                                                   There is room for improvement
                                                   in almost every organization

                                                                                   © 2012 IBM Corporation
Reputational risk and IT Study: security findings


We also found critical discrepancies between confidence level and
availability of security threat intelligence to support that confidence.

                                                                  Perception


                                                                are very confident or confident
                                                                they can manage IT risks
                                                                related to data breaches,
             Have access to the latest                          data theft and cybercrime
             security threat intelligence
                                                                Are proactive in the
                                                                management of latest security
                                                                threats
                                                                  Reality




                            “IT… is like the heart pumping blood to the whole body,
                              so any failure could threaten the whole organization’s
                              survival.”
                                                    — IT manager, French IT and technology company

10                                                                                          © 2012 IBM Corporation
Reputational risk and IT: perception vs. reality


Companies may be opening themselves up to unintended
reputational risk by ignoring the impact of their partners.


     Only
             39               % of companies are “very strenuously” requiring
                                      their vendors, partners and supply chain to match
                                      levels of risk control

                                                   How many outside sources does your
                                                   company do business with on a regular basis?

                                                   How thoroughly have you communicated your
                                                   IT risk mitigation standards to these sources?

                                                   How are you monitoring your sources’
                                                   compliance with your standards?



11                                                                                        © 2012 IBM Corporation
IT security industry analysts are quantifying and tracking the actual
costs of a data breach.




     Source: Ponemon Institute LLC, “The Impact of Cybercrime on Business,” May 2012

12                                                                                     © 2012 IBM Corporation
Reputational risk and IT Study: security findings


Well publicized scenarios of financial and reputational impact due to
security breaches are in the news every day.

           Payment                                   Online gaming                           Retailer
          processor                                   community

Hackers intrude core                                Community and                   Customer data stolen
line of business.                                   entertainment sites             over more than 18
                                                    hacked.                         months.

Nearly 130 million                                  Around 100 million              At least 45 million
customers affected.                                 customer records                records stolen.
                                                    compromised.

     Estimated costs:                                Estimated costs:                  Estimated costs:
        up to $500M                                        $3.6B                         up to $900M

        Illustrative purposes only. The actual facts and damages associated with these scenarios may vary
        from the examples provided. Estimated, based on publicly available financial information, published
        articles.                                                                                 © 2012 IBM Corporation
Reputational risk and IT: perception vs. reality


The impact on “reputation recovery” is measured in months, not
hours or days.

                                                     0-6 months    6-12 months   12+ months
                               Website outage                        78%           14%        8%

                                 System failure                     72%            17% 10%

                  Workplace compromise                             71%            18%       11%

                                         Data loss                 70%            17%      12%
      Failure to align continuity plans
                         with business                            65%            21%       13%

                Insufficient DR measures                          63%            24%       12%

                                    Data breach                   65%            19%      16%

                          Compliance failure                      64%            22%       14%




                                                                                         © 2012 IBM Corporation
IBM uses a ten essential practice approach to better manage IT Risk
and protect client reputations.


             1     Risk-aware culture
                   and management
                                                                         Control network
                                                                         access                       6
        2    Manage incidents
             with intelligence
                                               Maturity-based
                                                 approach
                                                                         S
                                                                                    Address cloud
                                                                                    and complexity        7
                                                                     int ecu
                                                                        ell rit
                                                                           ige y
                                                                              nc
                                                                                e
                                   Automated




                                                            O
      3     Defend mobile                                                            Manage third-
                                                                                                          8
                                                             pt
                                                                im
            and social space                                                         party compliance


                                                                   iz
                                                                      ed
                                                     Pr
                                                       of
                                                          ic
                                                            ie
                                   Manual




                                                              nt
                                                B
                                                 as




        4    Security-rich                                                          Secure data,
                                                                                                          9
                                                   ic




             services, by design               Reactive      Proactive
                                                                                    protect privacy



             5    Automatic security
                  “hygiene”
                                                                           Manage the
                                                                           identity lifecycle     10
                                                                                                              © 2012 IBM Corporation
Reputational risk and IT: what you can do now


What can you do now?



                                                Be aware.
                                                Do a Risk Security Assessment for
                                                visibility and prioritization for proper risk
                                                management strategy

                                                Be proactive.
                                                Manage against vulnerabilities for real-
                                                time protection against sophisticated
                                                attacks

                                                Be prepared.
                                                Have an incident response plan in place to
                                                quickly respond and remediate against a
                                                breach

16                                                                                    © 2012 IBM Corporation
Reputational risk and IT: what you can do now


Learn more about the reputational risk and IT connection, and how
IBM can help you protect the reputation and value of your company.



                                 Download the full study report includes all you’ve seen
                                  today, plus other important findings

                                         www.ibm.com/services/riskstudy

                                    Add your voice to the discussion
                                 Take the reputational risk survey online and get a
                                  complimentary copy of the upcoming expanded
                                                                             report
                               Scan the code or go to bit.ly/ibmrisksurvey


                               Learn more about IBM’s Ten
                               Security Essential Practices
                                                         ibm.com/smarter/cai/security
17                                                                                         © 2012 IBM Corporation
Thank
   you   for attending!




18                        © 2012 IBM Corporation
© Copyright IBM Corporation 2012

 IBM Corporation
 IBM Global Services
 Route 100
 Somers, NY 10589 U.S.A.

 Produced in the United States of America
 August 2012

 IBM, the IBM logo and ibm.com are trademarks of International Business Machines Corporation in the United States, other
   countries or both. If these and other IBM trademarked terms are marked on their first occurrence in this information with a
   trademark symbol (® or TM), these symbols indicate U.S. registered or common law trademarks owned by IBM at the time
   this information was published. Such trademarks may also be registered or common law trademarks in other countries.
   Other product, company or service names may be trademarks or service marks of others. A current list of IBM trademarks
   is available on the web at "Copyright and trademark information" at ibm.com/legal/copytrade.shtml.

 This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are
   available in every country in which IBM operates.

 THE INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED,
   INCLUDING WITHOUT ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND
   ANY WARRANTY OR CONDITION OF NON-INFRINGEMENT. IBM products are warranted according to the terms and
   conditions of the agreements under which they are provided.




19                                                                                                               © 2012 IBM Corporation

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Reputational Risk

  • 1. IBM Global Technology Services Five IT risk management practices of companies with excellent reputations How security and business continuity can shape the reputation and value of your company © 2012 IBM Corporation
  • 2. Today’s speaker Philip Kibler IBM, GTS Director Cyber Security Assessment and Response Phil has 31 years of IT experience and has led IBM Professional Security Services business since 2007. Recently he has been focusing on Cyber Threats and Intelligence and marshaling the resources of the IBM Corporation to support clients globally to deal with the growing Cyber Storm. Definition of IT risk and reputational risk Findings from 2012 Reputational Risk Study Financial implications of security breaches Recovery from reputational damage Five characteristics of companies with excellent reputations Ten essential practices…how they can help 2 © 2012 IBM Corporation
  • 3. Reputational risk and IT: What is reputational risk and why you should care? Reputational risk: a type of risk related to the trustworthiness of business. Damage to a firm's reputation can result in lost revenue or destruction of shareholder value, even if the company is not found guilty of a crime. Reputational risk can be a matter of corporate trust, but serves also as a tool in crisis prevention. Source: http://en.wikipedia.org/wiki/Reputational_risk Equation taken from - International Centre for Financial Regulation 3 © 2012 IBM Corporation
  • 4. Reputational risk and IT: How do we define IT risk? IT risk is comprised of a number of core components: Security and privacy Business continuity and disaster recovery IT compliance Supply chain Business transformation Product assurance 4 © 2012 IBM Corporation
  • 5. Reputational risk and IT: introduction To find out where and how IT makes its biggest impact on reputational risk, IBM conducted a worldwide study. #1 IT risks have a major impact on a company’s reputation #2 Companies have rising IT risk concerns related to emerging technology trends e.g cloud, social media #3 Companies are integrating IT risk and reputational risk management, with strongest focus on threats to data and systems Study demographics Conducted by Economist Intelligence Unit, paid for by IBM 427 respondents from around the world 23 industries 15 job titles Company sizes <$500M to >$10B 5 © 2012 IBM Corporation
  • 6. IBM factors reputational risk into the domain of IT security risk. Risk exists when … Threat Vulnerability Impact Can exploit And cause (Actor) (Weakness) (Loss) Security Risk Management is the application of control to detect and block the threat, to detect and fix a vulnerability, or to respond to incidents (impacts) when all else fails. Reputational risk becomes a factor in the evaluation of the potential impact © 2012 IBM Corporation
  • 7. Reputational risk and IT: what you can do now The study identified the 5 key characteristics of companies reporting excellent reputations. 1 Defining Characteristic: Have a special emphasis on reputational risk with the support of senior management and have effective escalation and reporting process 83%81% 84% 83% 78% 71% 64% 63% 59% 58% 42% 38% 2 36% 33% 3 28% 4 5 Integrate IT into Have strong/ Have adequate Very Are very confident/ reputational risk very strong IT risk strenuously confident in IT risk management IT risk management require supply management related management funding chain to match to data breach/data capacity standards theft 7 Organizations reporting their reputation as: Excellent Very good Average or worse © 2012 IBM Corporation
  • 8. Reputational risk and IT Study: security findings In the recent IBM reputational risk and IT study, security factors are ranked #1 among IT risks that can cause reputational harm. of respondents included data breaches, data theft and cybercrime among the IT risks that are most harmful to reputation of respondents identify of respondents very and manage reputational strenuously require third- risk as part of their IT party sources to match security operations their level of IT security 8 © 2012 IBM Corporation
  • 9. Reputational risk and IT: perception vs. reality There seems to be a mismatch between how well companies rate their reputation and how well they are protecting it. 80% rate reputation as excellent or very good 17% rate their company’s overall ability to manage IT risk as very strong There is room for improvement in almost every organization © 2012 IBM Corporation
  • 10. Reputational risk and IT Study: security findings We also found critical discrepancies between confidence level and availability of security threat intelligence to support that confidence. Perception are very confident or confident they can manage IT risks related to data breaches, Have access to the latest data theft and cybercrime security threat intelligence Are proactive in the management of latest security threats Reality “IT… is like the heart pumping blood to the whole body, so any failure could threaten the whole organization’s survival.” — IT manager, French IT and technology company 10 © 2012 IBM Corporation
  • 11. Reputational risk and IT: perception vs. reality Companies may be opening themselves up to unintended reputational risk by ignoring the impact of their partners. Only 39 % of companies are “very strenuously” requiring their vendors, partners and supply chain to match levels of risk control How many outside sources does your company do business with on a regular basis? How thoroughly have you communicated your IT risk mitigation standards to these sources? How are you monitoring your sources’ compliance with your standards? 11 © 2012 IBM Corporation
  • 12. IT security industry analysts are quantifying and tracking the actual costs of a data breach. Source: Ponemon Institute LLC, “The Impact of Cybercrime on Business,” May 2012 12 © 2012 IBM Corporation
  • 13. Reputational risk and IT Study: security findings Well publicized scenarios of financial and reputational impact due to security breaches are in the news every day. Payment Online gaming Retailer processor community Hackers intrude core Community and Customer data stolen line of business. entertainment sites over more than 18 hacked. months. Nearly 130 million Around 100 million At least 45 million customers affected. customer records records stolen. compromised. Estimated costs: Estimated costs: Estimated costs: up to $500M $3.6B up to $900M Illustrative purposes only. The actual facts and damages associated with these scenarios may vary from the examples provided. Estimated, based on publicly available financial information, published articles. © 2012 IBM Corporation
  • 14. Reputational risk and IT: perception vs. reality The impact on “reputation recovery” is measured in months, not hours or days. 0-6 months 6-12 months 12+ months Website outage 78% 14% 8% System failure 72% 17% 10% Workplace compromise 71% 18% 11% Data loss 70% 17% 12% Failure to align continuity plans with business 65% 21% 13% Insufficient DR measures 63% 24% 12% Data breach 65% 19% 16% Compliance failure 64% 22% 14% © 2012 IBM Corporation
  • 15. IBM uses a ten essential practice approach to better manage IT Risk and protect client reputations. 1 Risk-aware culture and management Control network access 6 2 Manage incidents with intelligence Maturity-based approach S Address cloud and complexity 7 int ecu ell rit ige y nc e Automated O 3 Defend mobile Manage third- 8 pt im and social space party compliance iz ed Pr of ic ie Manual nt B as 4 Security-rich Secure data, 9 ic services, by design Reactive Proactive protect privacy 5 Automatic security “hygiene” Manage the identity lifecycle 10 © 2012 IBM Corporation
  • 16. Reputational risk and IT: what you can do now What can you do now? Be aware. Do a Risk Security Assessment for visibility and prioritization for proper risk management strategy Be proactive. Manage against vulnerabilities for real- time protection against sophisticated attacks Be prepared. Have an incident response plan in place to quickly respond and remediate against a breach 16 © 2012 IBM Corporation
  • 17. Reputational risk and IT: what you can do now Learn more about the reputational risk and IT connection, and how IBM can help you protect the reputation and value of your company. Download the full study report includes all you’ve seen today, plus other important findings www.ibm.com/services/riskstudy Add your voice to the discussion Take the reputational risk survey online and get a complimentary copy of the upcoming expanded report Scan the code or go to bit.ly/ibmrisksurvey Learn more about IBM’s Ten Security Essential Practices ibm.com/smarter/cai/security 17 © 2012 IBM Corporation
  • 18. Thank you for attending! 18 © 2012 IBM Corporation
  • 19. © Copyright IBM Corporation 2012 IBM Corporation IBM Global Services Route 100 Somers, NY 10589 U.S.A. Produced in the United States of America August 2012 IBM, the IBM logo and ibm.com are trademarks of International Business Machines Corporation in the United States, other countries or both. If these and other IBM trademarked terms are marked on their first occurrence in this information with a trademark symbol (® or TM), these symbols indicate U.S. registered or common law trademarks owned by IBM at the time this information was published. Such trademarks may also be registered or common law trademarks in other countries. Other product, company or service names may be trademarks or service marks of others. A current list of IBM trademarks is available on the web at "Copyright and trademark information" at ibm.com/legal/copytrade.shtml. This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates. THE INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND ANY WARRANTY OR CONDITION OF NON-INFRINGEMENT. IBM products are warranted according to the terms and conditions of the agreements under which they are provided. 19 © 2012 IBM Corporation