A global leader in Cybersecurity and Digital Business Risk Quantification Management, announced the appointment of David Reilly, a veteran financial services industry Chief Information Officer (CIO) to its Advisory Board. David has served various roles in multiple Fortune 500 companies, most recently as CIO, Global Banking and Markets at Bank of America.
Saket Modi, Co-founder and CEO, Safe Security said, “With David’s experience in championing secure digital transformation and technology adoption for the last three decades, his guidance and expertise are invaluable to us. We are thrilled to welcome David on our Advisory Board.” Saket further added, “David has been an active advocate of the need for quantification in cyber risk management. He has been advising us to build the right product roadmap and strategy, and with him, we are a step closer to realizing our mission of making SAFE the de-facto standard for measuring and mitigating cyber risk.”
David Reilly was with Bank of America for over a decade and has served various roles including Chief Technology Officer (CTO), prior to his role as Chief Information Officer (CIO) Global Banking and Markets. Before joining Bank of America, David held multiple leadership roles in the financial services industry such as the CTO at Morgan Stanley and Credit Suisse, as well as MD at Goldman Sachs.
Commenting on his appointment, David said, “Cybersecurity is one of the most significant concerns for Boards and business leaders today. While businesses across sectors and market segments continue to invest in cybersecurity, there is a lack of a consistent and objective set of metrics to communicate and express cyber risk posture to the Board and other stakeholders. For example, in the way a chart of accounts and financial statements allow for a standard language to discuss financial risk, there is no standardized metric to communicate cyber risk. As technology continues to become pervasive, cyber risk quantification, prioritization and communication needs to become standardized. This is why I am excited to work with Safe Security, as I believe they can help security and business leaders prioritize and communicate cyber risks more effectively, and build a standard to measure, manage and mitigate cyber risks across industries.”
About Safe Security
Headquartered in Palo Alto, California, Safe Security is a leader in “Cyber security and Digital Business Risk Quantification Management” (CRQM). It helps organizations measure and mitigate cyber risk in real-time using its ML enabled API-first SAFE platform. It automatically aggregates signals across people, process, and technology, both for first and third parties to dynamically predict the breach likelihood (SAFE Score), dollar value at risk, and a prioritized list of recommendations for the security team.
The SAFE scoring model is built as joint research at MIT that incorporates cyber security sensors data, external threat intelligence, and business context and places it together in a Bayesian Network of a Supervised Machine Learning scoring engine to give out scores and dollar value risk that the organization faces. The scores are calculated both at a macro and micro level and can also be measured for particular Lines of Business / Crown Jewels / Departments.
The SAFE Score enables organizations to have a "common language" across teams, from the board all the way down to an analyst to be aligned with a consistent risk metric along with justifying investments in cybersecurity and purchase of cyber insurance for the organization.
For more information, visit https://www.safe.security/