Ramifications of Today’s Economy for the CIO

by Juniper Employee on 11-05-2008 04:14 PM

Since we are right in the midst of the presidential race where everyone is talking about "change", it looks like I too have been influenced and have spoken about change; specifically the changes in security threats that organizations must come to terms with. I would be remiss in not discussing in this installment the quantum changes that we have seen in the financial markets and what this means from a security perspective.

 

The financial turmoil that has seemed to envelop the world's economy can be seen clearly on the faces of financial services employees as I pass them on the street down in New York's financial district. As the stock market swoons and dips (and dips again) once mighty financial giants are unsure of their short term viability let alone long term viability.

 

And while these wild market gyrations continue to unfold, the CIO is also faced with the monumental task of continuing to ensure security of the network, applications and users while it appears that Rome is indeed beginning to burn.

 

The security threat is not from where you may think. As workers at the financial institutions begin to lose faith in their organization and feel that their job may be at risk, the time that is ripe for confidential data to leave the organization. Moreover, for an entire industry in "meltdown mode," the insider threat is gaining new attention as the incidents of employees committing a security breach are on the rise.

 

While most employees may not intend to create a security breach, there are always those few "bad apples" that find this to be the best time to harvest information (maybe for their next job or for retribution against a perceived injustice that the organization committed).

 

Whatever the motivations, CIOs must realize that given the current economic crisis, they must turn to comprehensive security that is able to look at potential threats inside their perimeter. They must be able to root out sophisticated and stealthy attacks that are designed to evade traditional security solutions, because who knows the organization's security better than one's own employee?

 

All financial investing have some inherent risk (as we are painfully aware), but in this unsure economic situation it is essential for the CIO to recognize the security risks and plan a careful strategy for maximum protection.

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by Juniper Employee on 11-06-2008 01:29 PM
I agree completely.  It's interesting to note that this is the first downturn to happen in such an interlinked environment -- we were just getting started in 2000.  I afraid that we'll be getting a lot of security case studies our of this one.
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About the Author
  • Michael Rothschild is the Senior Manager of Solutions Marketing at Juniper Networks, responsible for security solutions for the enterprise. When he’s not busy helping customer’s understand the importance of a solutions focus to address the new security threats affecting business, Michael is a professor of marketing and volunteers as a paramedic.
  • Krishna is a Distinguished Engineer in the Service Layer Technologies group at Juniper. He's currently working on DPI technology initiatives in products targeted at service providers and enterprise markets. Krishna has 19 years of experience in data networking involving Ethernet, ATM, IP, Switching and Security technologies. He has authored 10 patents in the areas of switching, security and QoS. He was actively involved in the IEEE 802.1 and ATM Forum standards committees. Prior to Juniper, he was the co-founder and System Architect at Top Layer Networks where he played a pivotal role in bringing multiple products to the market. He has also held senior engineering roles at Digital Equipment Corporation and Fore Systems.
  • As a Solutions Architect and Leader of Enterprise Solutions Engineering, Lior Cohen is responsible for developing reference architectures and best practices utilizing Juniper products. He has been designing and building enterprise networks and security solutions for over a decade and has helped several Fortune 500 companies develop risk mitigation strategies and implement information security technologies. Prior to joining Juniper, Lior was Chief Technology Officer for a privately held information security consulting firm where he led multi-national consulting and auditing engagements for the financial services and real estate sectors. He also filled various roles at Check Point Software, including leading the company’s Solutions Center. He holds a Bachelor’s degree in Economics and Information Systems from Tel Aviv University.
  • Rich Campagna, Senior Product Manager in the Access Business Group is responsible for business strategies, product development, partner interactions and customer engagements to help drive the growth of Juniper Networks' Unified Access Control and SA Series SSL VPN solutions. Rich is also an avid snowboarder and motorcyclist (not at the same time).
About Technically Secure
Welcome to Technically Secure, the Juniper Networks blog dedicated to trends and innovation in the world of IT risk management and security. Here we'll offer technical perspectives on network security, covering things happening within Juniper Networks as well as issues across the industry as a whole. Our mission is simple: explore ideas, share information, and provide insight that will help you take a proactive stance on threat and risk mitigation.

Our primary objective is to explore technical IT security issues as business and technology challenges that could compromise the effectiveness of enterprises and service providers. We'll share our strategies for staying ahead of today’s rapidly changing threat landscape and focus in particular on innovation in network security technologies.

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Our Bloggers Krishna Narayanaswamy,
Distinguished Engineer

Krishna is a Distinguished Engineer in the Service Layer Technologies group at Juniper. He is currently working on DPI technology initiatives in products targeted at service providers and enterprise markets.

Krishna has 19 years of experience in data networking involving Ethernet, ATM, IP, Switching and Security technologies. He has authored 10 patents in the areas of switching, security and QoS. He was actively involved in the IEEE 802.1 and ATM Forum standards committees.

Prior to Juniper, he was the co-founder and System Architect at Top Layer Networks where he played a pivotal role in bringing multiple products to the market. He has also held senior engineering roles at Digital Equipment Corporation and Fore Systems.

Michael Rothschild,
Senior Manager
Solutions Marketing

Michael Rothschild is the senior manager of solutions marketing at Juniper Networks, responsible for security solutions for the enterprise.

When he’s not busy helping customer’s understand the importance of a solutions focus to address the new security threats affecting business, Michael is a professor of marketing and volunteers as a paramedic.

Lior Cohen,
Solutions Architect

As a Solutions Architect and Leader of Enterprise Solutions Engineering at Juniper Networks, Lior Cohen is responsible for developing reference architectures and best practices utilizing Juniper products. In his free time, Cohen enjoys mountain biking and spending time with his children.

Rich Campagna,
Senior Product Manager

Rich Campagna,
Senior Product Manager in the Access Business Group at Juniper Networks is responsible for driving the business strategies, product development, partner interactions and customer engagements to help drive the growth of Juniper Networks' Unified Access Control and Secure Access SSL VPN solutions. Rich is also an avid snowboarder and motorcyclist (not at the same time).

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