The Ongoing Battle of Cybersecurity

Cybersecurity is not a technical issue. It’s a managerial problem that requires a new approach to risk management.

Imagine going down a river in a rowboat. Water seeps in, and you cannot see below the waterline — or, as it’s called in cyberese, the attack surface. While on the river, you bail the water out, and upon arriving back onshore you patch the most obvious holes. The very next day, you purchase a new product that ensures the bottom of your boat is absolutely water resistant. Now, feeling highly confident that you solved yesterday’s problem, you take the rowboat out on the river again. This time, you go over a waterfall and wreck the boat.

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About David X Martin

David X Martin is a veteran financial executive whose career includes stints at PricewaterhouseCoopers (PWC), Citibank, and AllianceBernstein. He has extensive experience working with regulators and sovereign governments, and at one time or another has handled the oversight of investable assets, investment strategies, operations, quantitative research, distribution channels, trading, and investment banking. He also has extensive experience running financial holding companies, overseeing acquisitions and the creation of new banking businesses.