Focal Point is one of the largest pure-play data risk consulting firms in North America. “We
have a singular focus on cyber risk,
which we help boards, management
teams and other decision-makers
address through our cybersecurity,
identity governance, privacy, analytics, audit, and hands-on training
services,” says Yong-Gon Chon,
CEO, Focal Point Data Risk. Chon
sat down with Consulting to discuss
Focal Point’s financial performance.
Consulting: What were the
main factors that contributed
to your firm’s growth?
Chon: Focal Point’s rapid growth
is a testament to our firm’s strategy, practice areas and people. A lot
of consulting firms focus on driving results by saying they have a
solution for every problem, or look
through ‘compliance’ as the lens
for change. Our firm grows through
referrals and reputation because we
have the courage and self-aware-ness to say ‘No.’ When we explore
clients’ fundamental businesses,
operations and change factors, we
strive to understand the data flow,
assets and ultimately a path to success. When you know clients’ data
lifeblood like we do, you are in an
inherently better position to partner with clients and effect greater
change through common goals.
Consulting: How is this year
shaping up for your firm?
Chon: This is an exciting year
of momentum and milestones.
We kicked-off the year with the
launch of our new Focal Point
brand in January. In the spring,
we published our inaugural Cyber
Balance Sheet Report. This was
a first-of-its-kind research study
using in-depth surveys and inter-
views with corporate board mem-
bers and chief information security
officers (CISOs) to conclusively
identify the most prevalent cyber
risk issues resonating in board-
rooms. The media and industry re-
sponse to Cyber Balance Sheet has
Consulting: Where do you
see the most opportunities?
Chon: We expect another big year
in 2018. Cyber risk situations that
escalated this year, like business
losses from the Equifax and Deloitte data breaches remind us of
the fundamental challenge companies face to understand their assets,
versus risks and consequences. If
the Equifax fallout spurs new regulatory measures or national breach
reporting mandates, that will trigger a lot of internal reviews and
require deeper dialogue between
executives and security teams.
Consulting: What would you
say are your firm’s biggest
challenges in 2018?
Chon: In our business it is all
about the people. We have fantastic employees and cultivate a
great deal of skilled experts, ourselves, through our own training
programs. However, the sheer size
of the opportunity we are chasing
means we are more constrained by
‘people’ than by ‘selling.’
Consulting: What does being
named one of Consulting’s
Fastest Growing Firms mean
to your firm, your employees
and your clients?
Chon: Being named to this prestigious list in concurrent years is an
honor and a great testament to our
people serving clients and our firm
every day. Focal Point is proud of
the company, brand and culture we
have created. As employees, this
is extremely gratifying because it
is all of our individual efforts that
make this growth possible.