Every organization must have a well-defined and researched information security incident response capability. The risk of not having such a force with you is much more than the kind of investment these skillsets are demanding. The value proposition against the cost is not for the faint-hearted. 

There are several reasons why setting up such a capability can be expensive:

1. Expertise: Hiring and retaining security experts requires a significant investment, as these individuals have specialized skills and knowledge in high demand. Additionally, security incident response involves a team of diverse backgrounds and expertise, including network security, forensics, and legal, which increases the cost.
2. Technology: Security incident response requires access to advanced technology and tools such as firewalls, intrusion detection systems, forensic tools, and others, which can be expensive to acquire and maintain.
3. Training: Keeping the security incident response team up to date with the latest threats and response techniques requires ongoing training and certification, which can be costly.
4. Time: Security incident response can take significant time and resources, as each incident must be thoroughly investigated and addressed. This includes the time required to collect and analyze data and the time needed to implement and verify corrective actions.
5. Legal and regulatory requirements: Compliance with legal and regulatory requirements, such as those related to data privacy and protection, can add to the costs of security incident response.

Still, you must convince the naysayers for their own good. Some arguments to support the cause are as follows.

1. Protects Business Reputation: A well-executed security incident response plan can help protect the organization’s reputation by demonstrating that the organization takes security seriously and is prepared to respond to security incidents promptly and effectively. This can help build trust with customers, partners, and regulators and reduce the risk of reputational damage.
2. Minimizes the Impact of Security Incidents: A strong security incident response capability can help reduce the impact of security incidents by quickly detecting and responding to security incidents. This can reduce the time and resources required to recover from a security incident, minimize the loss of sensitive data, and minimize the impact on the organization’s operations.
3. Compliance: Many regulations, such as the General Data Protection Regulation (GDPR) and industry standards, like the Payment Card Industry Data Security Standard (PCI DSS), requires organizations to have a security incident response plan and to demonstrate that they can respond to security incidents. Failure to comply with these regulations can result in significant fines and reputational damage.
4. Improves the Organization’s Resilience: A strong security incident response capability can help improve the organization’s resilience by reducing the impact of security incidents and improving the speed and effectiveness of the recovery process. This can help ensure that the organization can continue to operate in the face of security incidents and minimize downtime.
5. Demonstrates a Commitment to Security: Investing in a security incident response capability reflects the organization’s commitment to security and willingness to take proactive steps to protect its assets and reputation. This can help build trust with stakeholders and position the organization as a responsible leader in the security field.

Building a solid security incident response capability is essential for organizations to protect their assets, reputation, and operations in the face of security incidents. By highlighting the benefits and risks of not investing in this capability, you can make a compelling case for why investing in this critical component of a comprehensive security program is vital.

Such a capability is only helpful if we can put it to the best service. Hence, it is crucial for organizations to effectively detect, respond to, and recover from security incidents. The below process provides a generic view of how organizations can build their security incident response capability:

1. Define the Incident Response Team: Establish a cross-functional incident response team with clearly defined roles and responsibilities, including a lead incident responder, a communication team, technical experts, and legal and compliance personnel. Assign ownership of the incident response process and ensure that the team has the necessary resources and authority to carry out its responsibilities.
2. Develop an Incident Response Plan: Develop a detailed and well-researched incident response plan that outlines the steps to be taken in response to various types of security incidents, including the process for incident detection, escalation, investigation, containment, eradication, recovery, and reporting. The plan should also include the communication plan and the procedures for preserving evidence.
3. Conduct Regular Risk Assessments: Conduct regular risk assessments to identify threats and vulnerabilities and prioritize them based on the likelihood and impact of a security incident. This information can be used to refine the incident response plan and allocate resources where they are needed most.
4. Implement Technical Controls: Implement technical controls to detect and respond to security incidents, such as firewalls, intrusion detection systems, and incident response tools. Ensure that your systems and data are regularly backed up to facilitate recovery.
5. Establish Communication Channels: Establish communication channels to ensure effective and timely communication with stakeholders, including employees, customers, partners, and regulatory agencies, during a security incident. The communication plan should include the processes for informing stakeholders, providing updates, and responding to inquiries.
6. Provide Training and Awareness: Provide regular training and awareness to employees on security threats, incident response procedures, and their role in protecting the organization’s assets. Encourage employees to report suspicious activity and provide a secure and anonymous reporting mechanism.
7. Test and Review the Incident Response Plan: Regularly test and review the incident response plan to identify any gaps or areas for improvement. Conduct mock security incidents and simulate the incident response process to ensure that the plan is effective and that the team is prepared to respond to an actual incident.
8. Continuously Monitor and Improve: Monitor the security environment and update the incident response plan and technical controls as needed to keep pace with evolving threats and technologies. Regularly review the effectiveness of the incident response process and make improvements based on lessons learned.

These fundamental steps will help organizations build a strong security incident response capability that effectively detects, responds to, and recovers from security incidents. This can help minimize the impact of security incidents and protect the organization’s assets and reputation.