Consulting Magazine - November 2017

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
been tremendous.

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.