Axio is proud to launch our Executive Perspectives interview series. In each episode, we will interview the world’s top business leaders and learn about how they are handling cyber risk.
To kick things off, Axio CEO Scott Kannry sits down with former CEO and President of Ecopetrol Felipe Bayon. The conversation centers around the real-world impacts of cyber incidents, emphasizing the importance of preparedness at the executive level.
Episode Highlights
- The discussion begins with an exploration of recent high-profile cyber incidents, such as the CrowdStrike breach, and the broader implications for business leaders. Felipe emphasizes that cybersecurity is not just a technical issue but a fundamental business risk that needs to be managed with the same rigor as any other type of risk. “Cyber risk should be treated like any other type of risk that organizations have to contend with,” Scott notes, setting the tone for the conversation.
- Felipe shares his perspective on the importance of proactive leadership in cybersecurity. He highlights the need for CEOs and boards to be directly involved in understanding and mitigating cyber risks. “You need to be ready, you need to be prepared, and it’s something that is 24/7,” Felipe asserts, emphasizing that effective cybersecurity requires continuous vigilance and readiness.
- Collaboration across departments is another critical theme in the discussion. Felipe explains how translating the impact of cyber incidents into monetary terms can help secure buy-in from key stakeholders like CFOs and business unit leaders. “When you can translate the impact of a cyber incident into monetary figures, you’re speaking the language that CFOs and business leaders understand,” he says. This approach not only fosters collaboration but also ensures that cybersecurity is aligned with the organization’s overall risk management strategy.
- Preparedness is a recurring theme, with Felipe advising security leaders to think ahead and be ready for potential incidents. “Try to think of how you would deal with a cyber incident when you’re not dealing with it,” he advises, underscoring the importance of scenario planning and regular training.
- Throughout the episode, Felipe and Scott emphasize that cybersecurity, when handled proactively and collaboratively, can be managed effectively as a standard business risk. This episode offers valuable insights for security leaders, executives, and anyone involved in safeguarding their organization against cyber threats.
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