Governing Body Spotlight

Nikolai Belstein is a seasoned cybersecurity executive with over 20 years of experience in financial services and consulting. As the CISO of Boubyan Bank, he leads the bank’s cybersecurity strategy, risk management, and compliance efforts while aligning security with business innovation. Previously, he served as CEO of CYBERS/NeverHack Estonia and Global Head of Cyber Defence Centre at Danske Bank, driving large-scale security transformations. With a strong technical foundation and leadership expertise, he is passionate about leveraging AI, automation, and adaptive security models to enhance resilience in today’s evolving threat landscape.

Fun facts about Nikolai, he enjoys IPSC shooting competitions as a way to destress and stay sharp under pressure. Running, skiing and snowboarding are his go-to activities when he wants to disconnect and enjoy the outdoors. He is a huge Star Wars fan and believes cybersecurity teams should operate like the Rebel Alliance—strategic, agile, and always one step ahead. And whenever he grabs a coffee at a café and they ask for his name, he always says Darth Vader, just to have a little fun with it.

Learn more about the Middle East CISO community here.
 

Give us a brief overview of the path that led to your current role.

My journey in cybersecurity began over two decades ago, focusing on developing robust security programs within the financial services sector. After earning my Bachelor of Applied Science in Computer Programming, I took on various roles that honed my technical and leadership skills. Notably, as the Global Head of Cyber Defence Centre at Danske Bank, I managed teams across multiple countries, enhancing the bank’s cybersecurity posture. 

Subsequently, as the CEO of CYBERS/NeverHack Estonia, I led the cybersecurity service provider company through significant growth and a successful acquisition. These experiences culminated in my current role as the Chief Information Security Officer at Boubyan Bank, where I lead initiatives to align cybersecurity strategies with business objectives, ensuring compliance with international standards.
 

What is one of your guiding leadership principles?

I firmly believe in the power of collaborative leadership. By fostering a culture of open communication and trust, I empower my teams to innovate and take ownership of their work. This approach not only enhances team performance but also integrates security seamlessly into all aspects of the organization.
 

What is the greatest challenge CISOs face today, and how are you addressing it?

The role of the CISO is evolving beyond traditional security oversight to becoming a strategic business enabler, especially as organizations accelerate digital transformation and AI adoption. In the next 1-2 years, I see AI playing a pivotal role in cybersecurity operations, enhancing threat detection, automating response mechanisms, and improving predictive analytics. 

The ability to leverage AI-driven insights will be crucial in managing cyber risks at scale and ensuring real-time threat mitigation. At the same time, regulatory landscapes are shifting, and compliance with AI governance frameworks, cloud security mandates, and data protection laws will become increasingly complex. CISOs will need to navigate these evolving requirements while ensuring that AI-powered security strategies remain aligned with business objectives. 

Moving forward, my focus will be on integrating AI, automation, and adaptive security models into the organization’s security framework, enabling a proactive, risk-based approach that not only protects assets but also empowers business innovation.
 

What is the key to success for someone just starting out as a CISO?

Embrace continuous learning and remain adaptable. The cybersecurity landscape is ever-changing, and staying updated with the latest threats and technologies is crucial. Additionally, develop strong relationships across the organization; understanding business processes and collaborating with various departments will enable you to implement security measures that support and enhance business objectives.
 

How do you measure success as a leader?

Success as a leader is measured not only by achieving key cybersecurity objectives but also by the growth, resilience, and effectiveness of the team. I gauge success by how well cybersecurity strategies align with business objectives, ensuring that security is an enabler rather than a barrier. A reduction in risk exposure, improved regulatory compliance, and enhanced cybersecurity maturity are key indicators of effectiveness. 

Success is reflected in team development and leadership impact. If my team members are growing, taking ownership, and feeling empowered, it means I am fostering a culture of accountability, innovation, and continuous improvement.
 

What is the value of being a member of the Evanta community?

Engaging with the Evanta community provides invaluable opportunities to exchange knowledge and experiences with peers. These interactions offer diverse perspectives on emerging challenges and innovative solutions, contributing to both personal growth and the advancement of our organization’s security posture.
 

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