Retained Services / Fractional CISO

Security Executives Available 24x7

A survey conducted by Huntress in 2023 reported that:

  • 61% of small and medium sized businesses (SMBs) stated that they did not have staff dedicated to cybersecurity

  • 34% of respondents didn’t believe they had the technical capabilities (e.g., threat monitoring, endpoint detection and response, vulnerability scanning, etc.) necessary to detect advanced cybersecurity threats

  • 43% of cyberattacks will target smaller organizations in 2025 (this statistic was provided by Accenture’s Cybercrime report)

Many small and medium sized businesses handle large volumes of sensitive data, including financial data, personally identifiable information (PII), and personal health information (PHI). When this data is compromised and falls into the hands of cybercriminals, it may result in identify theft, economic loss, privacy breaches, and regulatory non-compliance.

Inadequate security controls also may result in your business suffering a ransomware attack, by which a cyber criminal infiltrates your company’s network, encrypts your business data (making your systems inoperable), and demands payment for the release of your data.

A cyberattack can be devastating. Financial losses are often felt immediately due to the cost of recovery, lost revenue, and potential legal liabilities. The brand and reputation of your business can also suffer severely, leading to additional impacts on earnings and customer retention. Small business leaders must recognize these risks and take steps to better protect their valuable digital assets.

Partnering with cybersecurity experts to protect the business you’ve built

Regardless of the size of your organization, through our retained services offering, Malcom Risk Advisors provides you with access to experienced cybersecurity executives, 24x7. Under your retained services agreement, you receive a monthly allotment of hours where your fractional-CISO is available to help you address current cybersecurity challenges specific to your business. Services that your fractional-CISO can perform include:

  • Developing formal cybersecurity policies and procedures for your organization

  • Performing security assessments to identify vulnerabilities within your technical environment which can be exploited by a cybercriminal

  • Identifying where sensitive data and personally identifiable information exist within your network and ensure adequate safeguards are in place to secure access to and transfer of this data

  • Provide cybersecurity awareness training to your employees

  • Perform regulatory readiness assessments to determine your organization’s ability to comply with applicable privacy and security regulations including PCI, GDPR, HIPAA, and FERPA

  • Lead the response to a potential cybersecurity incident

Additional information on each of these offerings can be found under the ‘Services’ tab at the top of this website.

While it’s the data breaches suffered by large corporations that make the headlines, the frequency with which cybercriminals are targeting small and medium sized businesses continues to rise. Partnering with Malcom Risk Advisors enables your business to be better prepared for survival when faced with a cyber attack.