In the modern workplace, the concept of security, and hence the title of chief security officer (CSO), has changed. Security used to mean the physical security of employees, equipment and the offices. Today, security has broadened its meaning to include digital security, privacy and protection against fraud. Companies are finding that taking a holistic approach to security is both cost-effective and efficient, bringing all forms of security within the purview of one office.
Loss and Fraud
One of the important duties of the SCO is protection against loss and fraud. In this case, corporate security is designed to operate outside its traditional sphere, engaging in surveillance over parts of the firm, such as accounting, that can be involved in corporate fraud. This also includes protection against corporate espionage and implementation of state regulations concerning fraud.
In the global environment, not all states have strict laws on intellectual property. Computer espionage can involve stealing and using inventions and developments from other firms. Protecting intellectual property is an important part of the CSO's responsibilities. Digital security is paramount, and the CSO's duties include maintenance of firewall protection and other forms of computer security.
Incident reporting is another important part of the CSO's job. The legal protection of the company depends on the correct and accurate reporting of incidents of all kinds, physical, digital or regulatory. Such reporting shows the company is protecting its assets, including employees. In any future litigation, incident reporting will be immensely important. A security officer therefore must be competent in this area.
Risk management is also a part of the modern definition of security. Risk management concerns the security of assets of all types. If a firm is expanding into a new market, a CSO will assess any security threats from the market and take appropriate action. In general, the CSO tries to limit the firm's exposure to legal liability. The CSO must fully understand all regulations and any possible pitfalls in any new market or development.
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