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Case Study

Virtual Chief Information Security Officer (vCISO) for UK Wholesale Sharia Bank

The client

UK-based wholesale Sharia’a Bank

The work

Our Client engaged us to assess their Information Security controls framework and drive the changes necessary to align them to ISO27001 industry standards. The role involved providing Information Security leadership, working with the Head of IT and the COO to position Information Security as a critical area for focus with the executive leadership team and the board of directors. The main aim was to raise the profile of Information Security and ensure ongoing support of the Client’s initiative to improve Information Security controls.

How we helped

The first step was to ensure that the executive team of the bank gained a
thorough and realistic appreciation of the nature and ramifications of the threats to the security of their data and business operations, as well as, the need to act to ensure an appropriate and demonstrable response.

We undertook a comprehensive review of Information Security controls across the bank. This resulted in a detailed gap analysis and remediation plan to mitigate control gaps and align policies and working practices to ISO27001. At the request of the Head of IT we led the communication of
the findings and recommendations to the executive and secured their sponsorship to execute the remediation plan in full.

Under the supervision of our virtual CISO a new Information Security Manager (ISM) was recruited. We worked collaboratively with the ISM to define, implement and communicate new policies and procedures.

Our virtual CISO provided guidance and mentoring to the ISM until the role gained credibility and was adequately established within the bank’s governance framework.

Value added

From a position of low visibility, Information Security risk and control awareness was raised to board level and became a standing agenda item for the Executive Management Committee. An ISO27001-aligned policy
set was implemented with a new role of Information Security Manager created to own and maintain Information Security risk management. The result was a step change in Information Security management capability at the bank.

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