Walk Down The Lane On Risk Management Efficiencies And Innovational Concepts Over The Years With Pranith Shetty

Walk Down The Lane On Risk Management Efficiencies And Innovational Concepts Over The Years With Pranith Shetty

Pranith has also performed security architecture reviews for his clients across industries.

Kapil JoshiUpdated: Thursday, May 23, 2024, 02:47 PM IST
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In recent years, information security and risk management as a field have seen a lot of growth in terms of importance and value addition across firms and businesses alike. The rationale for this growth stems from the rise in cybersecurity attacks, the way information about these attacks is communicated to senior management, siloed operations within security teams, and others. All of these reasons require the need for a proper risk management framework where threats are identified across various critical areas and processes.

Pranith Shetty has been in the information security and risk management industry for close to fifteen years now and has been advising clients, firms he is employed in, and various others in the field about the risk management framework and the benefits of the approach. As a result of this comprehensive experience in the field, he has been able to design and implement various risk management related efficiencies across his projects. These projects have enriched the firms and their clients in a very significant way, impacting them in terms of fiscal spend, resources, etc.

During his stint with Price Water house Coopers Advisory, Pranith worked with various clients in financial services, performing current state assessments, identifying their pain points in terms of risk and security posture, and advising them on ways in which they could get to a target state with better security posture. He was able to work with clients and explain to them detailed steps on how to control gaps and risks across their environment. These enhancements were necessary since they helped the firms comply with various cybersecurity and privacy regulations mandated by countries and states across the U.S., which also saved millions of dollars in fines for non-compliance.

Pranith has also performed security architecture reviews for his clients across industries. He has been involved in teams performing anti-money laundering assessments and was appreciated by his senior management for the results delivered.

The establishment and maintenance of risk governance forums, which are essential to risk management operations, have been greatly aided by Pranith Shetty. These forums help facilitate discussions amongst information security and risk officers around the current issues and risks plaguing the firm. As a risk officer and information security specialist, he drove creative solutions and assisted companies by resolving multiple problem statements in the risk management domain. Having collaborated with stakeholders worldwide, particularly during the pandemic, senior stakeholders highly valued his efforts.

Quite recently, and later in his career, Pranith took over as the business unit lead for Cisco's cloud and network security products, overseeing information security and risk management. Through the creation of a risk management framework, he was able to assist stakeholders and the entire business unit in navigating risks throughout the risk management lifecycle. Subsequently, this framework was embraced as a standard for all of Cisco's products within the unit.

In order to improve risk awareness among senior management, Pranith was instrumental in creating the risk register for cloud and network security products, which did not exist before he took over.

Among many other things, he wrote documents pertaining to risk management that were helpful to all parties involved, especially the business stakeholders. It gave them a guide to make sure risks are recognized and suitable responses are marked against different risks. He did have a major stake in the certification-related exercises held for products to access domestic and international markets.

Apart from his years of experience in diverse industries and adding value, Pranith Shetty has authored multiple papers in the information security and risk management domains. A few of these papers specifically address problem statements that he has encountered in his extensive background in various fields. He is on the editorial boards of several security journals as well. Regarding upcoming developments, artificial intelligence (AI) is becoming more popular in terms of usage in a variety of fields and conceptual proof of concepts. While AI tools based on existing datasets and models have been used in information security-related fields as well, it is unclear how much AI will eventually replace current procedures and instruments.

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