Security teams used to be seen as a function that blocked requests from the business; they now acknowledge that their role is much more about working out how to best manage risk while embracing changes the business leaders want to push throughout the organization. Without adequate knowledge and preparedness, the risk and compliance function is forced to tilt more heavily toward risk mitigation, often at the expense of speed and innovation. Leaders are recognizing the need for this to change.
This article lists seven key questions for risk and compliance functions to consider, the internal and external consequences of failing to act, and questions to consider when assessing the organization's preparedness for pursuing each of the digitalization objectives.