Interesting article over at Computerworld Philippines. The article outlines a lack of Chief Security Officers (CSOs) within the country. I would guess that many US companies also lack CSOs with the following breadth of responsibility:

Karl Verhulst, product marketing director of Computer Associates (CA)
in South Asia, added that the person being groomed to be a CSO should
be senior enough because the CSO can override the chief executive
officer (CEO) when it comes to security matters. "The issue is not
having someone who knows what security is but someone who has the power
to do something about it," Verhulst said. The CA director observes
there is an urgent need for companies to create a CSO position because
security is not getting enough attention at the board level.
...
[Microsoft's Ayson indicated] that the CSO should, in fact, be
an enabling position responsible for threats and risks in the
organization. Finally, the CSO should also have the power to state how
much of the total IT budget should be allotted to security.

Steve Shu