Video transcript: PwC's Managed Cyber Risk services

Transcript

Philippe Korur: One of the most common and pressing challenges our clients face is a lack of real time visibility into their cyber risk posture.

So chief information security officers are constantly being asked questions by boards and regulators like are we secure today?

What's our biggest cyber risk right now?

Or are how has our risk posture changed in last month?

The most organisation are still relying on periodic assessment, static dashboards or siloed telemetry from their tools, which makes it very difficult to answer those questions with confidence or speed.

Another key pain point is the ability to prioritise investments effectively.

Many organisations struggle to demonstrate the return on investment of their cyber initiatives or simulate how much risk reduction a particular programme will deliver.

That makes it hard to justify budget aligned stakeholders or make data-driven trade-offs.

So managing cyber risk in today's environment is more complex than ever.

Threats are evolving rapidly from identity based attacks to increasingly sophisticated cloud compromises, and Csos are expected to respond with speed, clarity and measurable impact.

But legacy approaches to cyber risk management are often too static, too siloed, and too slow.

That's why we built MCR.

At its core, MCR is a platform that delivers dynamic, data-driven cyber risk insights to help organisations shift from reactive defence to proactive risk management.

But it's more than just a tool.

It comes with a complementary suite of optional services that help clients operationalize and automate cyber risk management processes.

So the platform itself provides 5 core capabilities.

First, configure.

It enables you to configure a cyber risk taxonomy and risk model assess to assess risks, threats and control effectiveness with real time data.

Treat risk.

So it's it's to treat risks with prioritised portfolios of control improvements.

Simulate that enables you to simulate your risk reduction based on different investment scenarios, but also simulate at what level you need to to be in your target risk levels against risk appetite.

Report It's a reporting of features to to tailored insights to give tailored insights to stakeholders from the board to the control owners.

On top of this, we offer a flexible managed service layer that includes cyber risk advisory to help define the right foundations and connect to your data sources.

Retainer services can cover core support, recalibrating the risk model or curating bespoke reports.

For example.

Assess Support that enables you to configure continuous controls, monitoring connections and supporting assessments.

Treat support, prioritising control improvements and advising on emerging good practises.

And this combination of platform advisory and on demand expertise means client can involve their cyber risk management function at a pace that suits them, backed by data automation and RPW CS deep experience.

So if you're a Chief Information Security Officer at sea, so the service is designed with you in mind.

So you're being asked to provide real time answers to difficult questions typically.

So for example, where are we most at risk right now?

Are control still effective?

Are we within risk appetite and often without the data, time or resources to respond with confidence.

So MCR is here to change that.

It's built for organisations that want to move beyond spreadsheets and static dashboards and embrace a more integrated, continuous approach to cyber risk management.

Whether you're preparing for a board update, justifying a secure investment, responding to a live incident or planning for the next financial year, MCR gives you the tools and support to do so with speed and precision.

It's particularly valuable if you have a complex control environment or multi cloud architecture and need to harmonise your telemetry and communicate cyber as to execs and the board.

In short, MCR is for Csos who wants to operationalize cyber risk management, not just track it, and who want to embed risk thinking into decision making at every level of the business.

So what sets MCR apart is that it brings together three key ingredients that most solutions don't live data, risk modelling, and expert LED services all in one place.

While many platforms can track security metrics, MCR translate those metrics into business relevant risk insights.

It's not just about monitoring control status, it's about quantifying exposure, simulating change, and aligning cyber risk with business objectives.

That's what gives Sisos and boards the confidence to act.

And unlike tools that require heavy customization or constant manual inputs, MCR comes pre integrated with risk methodologies like FAIR, MITRE, and NIST, and includes advisory and support services to help clients personalise the platform effectively.

We don't just hand you a dashboard, we partner with you to build a capability.

So our MCR platform is built to work seamlessly with the tech ecosystems our clients already use.

That means strong technical integrations and collaborations with major vendors.

These connections allow us to ingest telemetry from existing tools and security platforms, whereas cloud posture and point protection or threat intelligence.

It's into a unified risk model.

Rather than asking clients to adapt their architecture to us, we adapt MCR to their environment.

That flexibility is a key part of our value.

On the AI side, we're not just experimenting, we're already delivering meaningful automation.

For instance, we've developed an AI summarization capability that curates threat intelligence reports from our dedicated threat intelligence portal and feeds those insights directly into MCR.

This ensures clients receive sector relevant, concise threat updates tailored to their own risk exposure.

We're also developing an AI assistance, an embedded chatbot that enables natural language querying of the clients cyber risk posture and controls.

This will let CSO's and stakeholders get fast, accurate answers without needing to navigate complex reports.

Perhaps most excitingly, we're working on AI driven threat assessments.

These will leverage our extensive database of real world cyber incidents combined with insights from our threat intelligence analysts who track the evolution of threat actors, behaviours and techniques.

By combining structured data with human foresights, we aim to generate automated predictive threat likelihood assessments tailored to each client's industry and digital footprint.

This is how we see the future smart automated explainable Cyberis decisions grounded in data, enhanced by AI and guided by expert judgement.

Yeah, let me share you a real world example that illustrates the impact of MCR service can have.

So we recently worked with a large financial institution that was undergoing a major digital transformation.

They were expanding cloud adoption, onboarding new third parties, and facing increased scrutiny from both regulators and their board.

But despite having strong technical controls in place, they lacked A unified view of their cyber risk and couldn't quantify how emerging threats and control change were impacting their overall posture.

That's where MCR came in.

We started by helping them configure a cyber risk model tailored to their organisational structure and threat landscape.

We connected the platform to their control telemetry sources that included CSPM tool, cloud security posture management tool so that risk metrics were automatically updated based on real world data.

From there we helped them on board a portfolio of control improvement projects, many of which had been running for years without a clear link to measurable risk reduction.

Using MCR simulation feature, we were able to demonstrate which initiatives were actually moving the needle and which weren't.

This gave them a powerful evidence base to reprioritize funding and improve return investment.

Most importantly, they began using MCR reports, including the risk heatmap, the Strategic insights dashboards view and the the different kind of prioritisation of investments views that we have in the platform in their monthly risk committees and meetings and board packs.

These help them shift the conversation from technical status updates to risk informed business decisions.

So our vision for the future is clear.

We want to help organisations make cyber risk measurable, manageable and meaningful, not just for the security function, but across the entire business.

The pace of change in technology, threats and regulations isn't slowing down.

That means traditional periodic approaches to cyber risk management will no longer suffice.

The future lies continuous data-driven decision making powered by real time telemetry, risk modelling and AI enabled insights.

That's why we're continuing to invest in our MCR platform, not just as a tool, but as a capability.

We're expanding integrations with broader ecosystems including risk, compliance, threat, Intel, AI, governance platforms.

More broadly, we want to help security teams shift from being reactive cost centres to proactive business enablers.

That means providing tools and insights that connect cyber risk to strategic priorities, whether it's resilience, growth, compliance or merges and acquisitions.

Ultimately, our mission is to make cyber risk a competitive advantage.

We run MCR so our clients lead, not follow in a constantly evolving risk landscape.