Cybersecurity threats are estimated to cost the world US $6 trillion a year by 2021, and the number of attacks has increased five-fold after COVID-19. The pandemic has rocked industries around the world, hitting sports and entertainment, hospitality and tourism, and restaurants especially hard.
But for technology companies like Duff and Phelps, the global health crisis presented an opportunity to demonstrate their industry expertise and leadership.
“Security can’t be an afterthought or add-on,” says Rahul Bhardwaj, the VP – Global Privacy and Data Security and Chief Information Security Officer (CISO) - APAC for New York based Duff and Phelps. “It has to be a part of the culture, and we’ve worked hard to make sure that guides what we do and how we do it.”
"A man for whom the most complex projects and technologies are second nature, Rahul Bhardwaj can find inspiration from the most unconventional sources. "
Since signing on in 2019, Rahul Bhardwaj has intensified Firm’s efforts to protect its most valuable resource: The hundreds of financial service firms nationwide that the company provides with valuation, corporate finance, and cyber services.
A man for whom the most complex projects and technologies are second nature, Rahul Bhardwaj can find inspiration from the most unconventional sources.
Rahul’ job has been to design and implement a Global Privacy and Data Security program for the Firm. Due to the business nature of acquiring mid to small size global firms in different geographies, it was not surprising that some of these firms didn’t have very robust privacy and data security controls.
In the digital age, where data has emerged as both the most valued asset and biggest threat. The ever-increasing global privacy regulations where now 100 countries spanning 6 continents have enacted privacy laws that seek to protect the information. The responsibilities for setting up “Global Privacy and Data Security” were challenging but that what I have been seeking throughout my carrier. I was tasked to provide leadership, management, and strategy for all aspects of global privacy, and data security, liaison with other executives and functions like COO, CIO, CISO, CCO, and operational executives to have a unified strategy to setup global privacy program for the Firm without business distribution.
He sized up the Firm’s vision for security, evaluated its personnel in this area, and voraciously reviewed reports and test results. Then Rahul performed “gap assessment,” or determining what capabilities were needed to execute his vision. He identified two roles in need of filling. One was a program manager to oversee the wider security apparatus—its programs, platforms and vendor partnerships.
“We’re always looking at what’s going on in the world, to get ahead of anything that might be out there,” Rahul says. “Our tools tell us what we need to do in order to course-correct and protect our infrastructure.”
Eyes on the prize
“We’re trying to run security like a business, by looking at the value each initiative brings,” Rahul says. “Every investment firm is making to secure the firm shall allow business to use as a competitive advantage. Security as a Competitive Advantage one of the prime objectives of the security group and helps to gather all the support.
According to Rahul, the goal is to gain insights into the whole lifecycle of a particular security process. Based on the resulting metrics, Duff and Phelps can determine whether a given investment—a phishing education program or tool, for example—is working.
We’ve made security a part of our company culture,” Rahul says. “We’re not evaluating our posture on a yearly or even a monthly basis; we’re doing it every day.”
Successful Track Record and Building Blocks
For the Andhra University masters graduate, being a trendsetter is par for the course. Beginning as a security professional at Vertex Computer Systems in 2005, Rahul’ career trajectory would include stops at Patni Computers System , FinTech giant FIS, where he served as director of Information Security from 2009 to 2018.
After a stint as Principal GRC for FICO, Rahul was hired by Duff and Phelps. His mandate was raising the bar on the company’s IT security and data privacy, and helping the business run more smoothly.
Rahul’ creativity and leadership have brought him many international honors, The American Business Awards® presented him with its highest recognition, a Gold STEVIE Awards - Information Security Executive of the Year 2020 Award. Last year Rahul was inducted “Marquis Who's Who”, for his work as a professional, and efforts while working with not-for-profit boards in the field of healthcare project as CISO and securing the platform.
Rahul is regular speaker and presenter in industry summit, conferences and panels. He is firm believer that, the stakes in information security have never been higher, but that lends itself to lots of opportunities,”. “The more we can share ideas about the collective threats we face, the better off all us will be.”IE
Rahul Bhardwaj
Global Privacy and Data Security Program of Duff and Phelps
Duff & Phelps is the world’s premier provider of governance, risk and transparency solutions. We work with clients across diverse sectors in the areas of valuation, corporate finance, disputes and investigations, cyber security, claims administration and regulatory compliance. With Kroll, the leading global provider of risk solutions, and Prime Clerk, the leader in complex business services and claims administration, our firm has nearly 4,000 professionals in 25 countries around the world. For more information, visit www.duffandphelps.com.