You’ve heard the term floating around: vCISO, Virtual Chief Information Security Officer. It sounds enterprise-y, expensive, and probably not for a business your size.

But is that actually true? Let’s look at what a vCISO does and whether it might make sense for your small business.

What Does a vCISO Actually Do?

A traditional CISO (Chief Information Security Officer) is a senior executive responsible for an organisation’s information security strategy. They typically:

• Set security strategy and priorities
• Manage security budgets and teams
• Report to the board on cyber risk
• Oversee incident response
• Ensure compliance with regulations
• Work with business leaders on risk decisions

A full-time CISO in Australia earns $250,000-400,000 plus super, bonuses, and benefits. For most SMBs, that’s obviously not feasible.

A virtual CISO provides the same strategic guidance on a part-time or contract basis. Instead of a full-time employee, you might get 5-20 hours per month of senior security leadership.

What a vCISO Does for SMBs

For a small business, a vCISO typically:

Assesses your current security posture. Where are you now? What are the gaps? What’s the realistic risk?

Develops a security roadmap. What should you prioritise? What’s achievable with your budget and resources?

Advises on policy and process. Do you need an acceptable use policy? How should you handle security incidents? What’s your backup strategy?

Interfaces with vendors. Evaluates security tools, negotiates with providers, validates that what you’re buying actually fits your needs.

Handles compliance requirements. If you need to meet Essential Eight, ISO 27001, or industry-specific requirements, they guide the process.

Supports incident response. When something goes wrong, they provide experienced guidance on what to do.

Reports to leadership. Translates security into business terms. Helps the owner or board understand cyber risk.

When Does a vCISO Make Sense?

A vCISO isn’t for everyone. Here’s when it typically makes sense:

You’re growing and security is becoming complex. The ad-hoc approach that worked at 10 people doesn’t scale to 50. You need strategy, not just firefighting.

You have compliance requirements. Government contracts, healthcare data, financial services - if you need to demonstrate security maturity, a vCISO can guide the process.

You’ve had an incident. After a breach, you need to understand what went wrong and how to prevent recurrence. A vCISO brings the expertise you lack internally.

You’re concerned about risk but don’t know where to start. If cybersecurity feels overwhelming and you want experienced guidance without enterprise costs.

Your clients are asking questions. Larger clients increasingly audit their suppliers’ security. A vCISO helps you answer their questionnaires confidently.

When It Probably Doesn’t Make Sense

You’re too small. A business with 5 employees probably doesn’t need strategic security leadership. You need to implement the basics, and an IT support provider can likely help with that.

You’re not ready to invest. A vCISO costs money. If you’re not willing to also invest in the tools, training, and changes they recommend, you’re paying for advice you won’t follow.

You just need technical help. If what you actually need is someone to configure your firewall or set up MFA, that’s IT support, not a vCISO. Don’t overpay for strategy when you need tactics.

What Does It Cost?

vCISO pricing varies widely based on experience, engagement scope, and hours required. Rough ranges for Australia:

Retainer model (most common):

• Entry-level vCISO: $2,000-4,000/month for 5-10 hours
• Experienced vCISO: $4,000-8,000/month for 10-15 hours
• Senior/specialised vCISO: $8,000-15,000+/month for 15-20+ hours

Project-based:

• Security assessment and roadmap: $5,000-15,000 one-time
• Compliance program (Essential Eight, ISO 27001): $20,000-50,000 depending on scope

Compare this to a full-time hire. Even a junior security manager costs $120,000+ all-in annually. A vCISO at $5,000/month is $60,000/year - half the cost for potentially more experienced guidance.

What to Look For

If you’re considering a vCISO, here’s what matters:

Relevant experience. Have they worked with businesses your size? Do they understand your industry? Enterprise security experience doesn’t automatically translate to SMB realities.

Practical focus. Do they recommend achievable actions or pie-in-the-sky solutions? You need someone who can work within constraints, not ignore them.

Communication skills. Can they explain security to non-technical leadership? Security leaders who can only talk to techies aren’t useful at the strategic level.

Clear scope and expectations. What exactly will they deliver? How many hours? What’s included and what’s extra? Get this in writing.

Local knowledge. Australian privacy law, ACSC guidance, local industry requirements - you need someone who understands the Australian context.

References. Talk to their other clients. Are they actually delivering value?

Questions to Ask Potential vCISOs

• What experience do you have with businesses of our size?
• How would you approach understanding our current security posture?
• What would a typical engagement look like for us?
• How do you measure success?
• Who will we actually be working with? (Make sure it’s the experienced person, not junior staff)
• Can you provide references from similar clients?
• How do you handle it when we can’t afford to do everything you recommend?

The Alternative: Managed Security Services

Some businesses combine a vCISO with managed security services - an outsourced team that handles day-to-day security operations. The vCISO sets strategy; the managed service executes it.

This can be cost-effective for businesses that need both leadership and operational capability but can’t build an internal security team.

My Take

For many SMBs in the 20-100 employee range, especially those handling sensitive data or serving regulated industries, a vCISO can be valuable. They provide expertise you couldn’t otherwise afford and help you make better decisions about where to invest limited security resources.

But they’re not a magic solution. You still need to implement their recommendations, and that takes time and money beyond the vCISO engagement itself.

If you’re not sure whether you need a vCISO, try a scoped project first. Commission a security assessment. See what they deliver and how you work together. If it’s valuable, a retainer relationship might make sense.

Good security leadership - whether full-time or virtual - pays for itself by preventing incidents, enabling business opportunities, and building client confidence. The question isn’t whether you can afford it, but whether you can afford the consequences of not having it.