Reality Check

Advanced concepts for measuring risk and value can be useful for CSOs, as are methods for making investment decisions such as portfolio management. But Bill Wipprecht, CSO at Wells Fargo, reminds security pros not to take their eyes off the ball. Wipprecht says security still needs to measure and communicate its value in the most basic terms: dollars saved (through theft prevention) and dollars recovered (through investigations and collections).

“Everybody would like to be considered an investment instead of a cost center, sure,” he says. At Wells Fargo, Wipprecht says he tracks “intangible” value provided by the security groupincluding benefits such as employee and customer confidence, the value of a safe workplace, and the safety of intellectual property. “But the bottom line is still tangible saves,” he says. In two particular cases last year, the work of Wipprecht’s security group saved the company $43 million dollars. Those are the kinds of hard numbers that inspire confidence from upper management.