Leadership Gap in Cyber Talent Leaves Enterprise Unprepared for SOC 2 Certification Audit

The Challenge

NorthBridge Financial Group, a mid-sized Canadian wealth manager, expanded its digital operations, assuming the existing IT team could support the shift. The firm had relied on legacy infrastructure and outsourced support. As client data migrated to cloud platforms, formal cybersecurity governance became critical.

The Board mandated SOC 2 Type II certification to satisfy institutional partners and investors. The company lacked dedicated cybersecurity leadership. The IT Manager, already responsible for network uptime and vendor contracts, was informally tasked with preparing for the audit.

Staff struggled with audit requirements. Documentation was inconsistent, logging was not centralised, and HR could not verify background checks for personnel handling client data. The CIO had resigned months earlier, leaving no interim leadership.

Recruiting certified professionals (CISSP, CISM, SOC specialists) proved challenging due to a competitive market. Immediate impacts included audit postponement, suspended partnerships, declining morale, and regulatory scrutiny.

Our Solution

Key actions delivered:

  • Conducted a Cyber Workforce and Governance Assessment to identify gaps.
  • Installed an interim virtual CISO (vCISO) to provide oversight and report to the Board.
  • Sourced certified professionals (CISSP, CISM, CISA, ISO 27001 Lead Implementer) to support documentation and control testing.
  • Implemented a SOC 2 Readiness Framework covering policies, centralised audit-evidence collection, and log management.
  • Delivered targeted staff training on incident response, privacy obligations, and audit processes.

The Value

Within 90 days, NorthBridge regained control of its certification program and restored leadership.

Measured outcomes:

  • Appointed a certified vCISO and permanent Director of Cyber Governance.
  • Completed readiness review with no major non-conformities.
  • Reduced consulting costs by 35% compared to traditional hiring.
  • Reactivated partner contracts valued at $2.4 million.
  • Improved staff capability and repeatable evidence collection.

Implementation Roadmap

Phase 1: Assess and Stabilise (Weeks 1–3)

  • Gap analysis of staffing, policies, and controls.
  • Appoint vCISO and establish Board reporting.
  • Approve SOC 2 readiness plan.

Phase 2: Build Policies and Controls (Weeks 4–8)

  • Formalise access control, change management, incident response, vendor risk, and privacy policies.
  • Deploy centralised logging and monitoring.
  • Launch staff training.

Phase 3: Validate and Remediate (Weeks 9–12)

  • Conduct mock audit and tabletop exercises.
  • Address findings in background checks, logging, and change control.
  • Prepare final evidence package.

Phase 4: Operate and Improve (Ongoing)

  • Transition oversight from vCISO to internal Director.
  • Implement continuous monitoring and quarterly reporting.
  • Schedule annual control reviews.