vCISO Explained: What It Is and How to Hire One For Your Business

Cybercrime is becoming more and more sophisticated and costly these days. In fact, a report by cybersecurity company Sophos found that ransomware-hit organizations paid cybercriminals an average of $2 million to unlock their files in 2024. This is a significant increase from $400,000 in 2023.

However, the report also found that the ransom payment is just one part of the cost. This is because businesses still need to spend an additional $2.73 million to completely restore their systems.

As such, it’s important to prioritize your business’s cybersecurity and take proactive measures to safeguard it from threats. One of the best things you can do is to bring in a virtual Chief Information Security Officer (vCISO). In this article, we will discuss what a vCISO’s role is, the benefits of having one, and how Techmedics can help you get one through our Managed Security Services offering.

What is a virtual CISO/vCISO?

A vCISO is an outsourced cybersecurity expert who develops and implements an organization’s security strategy. They protect the business’s infrastructure, customers, and data through flexible, on-demand support delivered remotely.

The vCISO model can also be referred to as CISO as a Service (CISOaaS).

What are the roles of a vCISO?

vCISOs typically perform the following tasks:

Strategic planning: Creating and implementing a full cybersecurity strategy aligned with the business’s goals and objectives.
Risk management: Identifying, evaluating, and prioritizing security vulnerabilities, and executing cybersecurity measures to address them.
Policy creation: Developing and implementing security policies and best practices to safeguard sensitive information from cyberthreats.
Incident response development: Creating incident response procedures and strategies to reduce the effect of security breaches and cyberattacks on the business.
Security awareness training: Educating employees to protect the business’s assets, data, and financial resources from cyberthreats like malware and phishing attempts.
Vendor management: Overseeing relationships with IT services vendors to ensure they meet security standards. This aims as well to minimize potential risks associated with third-party access to sensitive information.
Compliance: Ensuring that a business is compliant with certain regulations, industry standards, and legal requirements. These could include the General Data Protection Regulation (GDPR), Health Insurance Portability and Accountability Act (HIPAA), and ISO 27001.

How are vCISOs different from traditional CISOs and Fractional CISOs?

vCISOs and regular CISOs mainly differ in their employee status and operational model.

vCISOs are usually sourced from cybersecurity consulting firms and managed security service providers like Techmedics and serve as a part-time (ptCISO) consultant. They often handle multiple clients, providing flexible cybersecurity expertise on a contractual basis.

In contrast, a traditional CISO is a full-time employee dedicated to just one organization. They offer in-depth cybersecurity expertise and is a part of the business’s executive team.

But did you know there’s another type of CISO that functions similarly to a vCISO? This is known as a fractional CISO.

What is a Fractional CISO?

Some people may use the terms “fractional CISO” and “virtual CISO” interchangeably. This is because they both refer to roles where an expert provides security guidance without being a full-time employee. However, the two have subtle differences:

Commitment: vCISOs may offer their services on an as-needed basis. Fractional CISOs, on the other hand, typically dedicate a certain number of hours per week or month to a business as a part-time security practitioner.
Services offered: vCISOs operate like a full cybersecurity department, providing round-the-clock support, continuous risk assessment, and comprehensive incident response. Meanwhile, fractional CISOs focus only on select aspects of cyber security.
Cost: A vCISO can be more cost-effective for businesses that require occasional security oversight, while a fractional CISO might be more ideal for those that need more focused and proactive guidance.

What is the difference between a vCISO and a vCIO?

Some business owners who are new to outsourcing IT leadership may confuse the terms vCISO and vCIO (virtual Chief Information Officer). However, these two serve distinct roles within an organization.

What is a vCIO?

A vCIO is a consultant or a service provider that acts as an organization’s chief information officer on a project or part-time basis.

They perform the same duties as a traditional CIO, including developing strategic IT goals, conducting technology assessments, planning the IT budget, and analyzing and reassessing business processes. However, they are not a part of the organization’s payroll as they are engaged on a contractual basis and operate as an external service provider.

How do vCIOs differ from vCISOs?

vCIOs are more business-focused, ensuring the organization’s IT infrastructure and strategy align with its objectives and goals. vCISOs, on the other hand, prioritize protecting the business from cyberthreats and ensuring compliance with industry standards.

However, the two roles aren’t completely separate from each other. In fact, a vCIO may touch on cybersecurity aspects as part of their broader responsibilities. For instance, they might recommend secure technologies and collaborate with the vCISO on security initiatives. However, comprehensive cybersecurity planning, incident response, and threat management planning remain the exclusive responsibility of the vCISO.

What are the benefits of hiring a vCISO?

Some advantages of having a vCISO include:

Cost Effectiveness - As mentioned earlier, traditional CISOs are full-time employees. They command high salaries, ranging from $206,000 to $360,000 per year, which can be difficult for small businesses to afford. In contrast, vCISOs offer a more cost-effective solution by providing their services on an as-needed basis. This way, organizations only pay for the services they require.
Expertise - vCISOs have a wealth of cybersecurity experience, allowing them to offer valuable insights and best practices that meet the organization’s specific needs.
Better Compliance - Staying compliant with various cybersecurity standards and regulations can be time-consuming and difficult. But by having a vCISO at your disposal, you can rest assured that your organization is always updated with compliance requirements, avoiding hefty penalties and maintaining trust with customers and stakeholders.
Risk Mitigation - By managing a company’s strategic cybersecurity guidance and threat intelligence, a vCISO can help businesses mitigate the risk and impact of disasters like data breaches and malware attacks. This can protect the business’s reputation and shield them from the high costs of downtime.
Tailored Experience - Most vCISOs dedicate time to learn about your business needs. This allows them to create a customized cybersecurity strategy that aligns with your organization’s goals, minimizes your risk, and maximizes efficiency.

How Techmedics can help you get a vCISO

As you can see, it’s important for businesses to have a dependable vCISO. If your business is looking to get one, Techmedics can help you through our Managed Security Services, where we offer the following:

Managed Detection and Response
Small Business Security Management
Device Management
Cybersecurity Assessment
Penetration Testing
Co-managed SIEM
End-user Training

By choosing us as your security services provider, you’ll get cutting edge cybersecurity technology, superb threat intelligence, and a reliable team of experts who can ensure your business is resilient against evolving threats. Schedule a call today to learn more.