Building a CTI Team: Buy-In, Budgets, and Better Intelligence - Interview with Sherman Chu S3E5
What does it take to build and run a cyber threat intelligence function, and how can you tell whether the intelligence you’re producing is any good? In this episode, host Freddy Murre sits down with Sherman Chu, who at the time of the interview worked at BlackRock, for a conversation about lessons learned on the job, tradecraft and AI.Sherman recounts his path from Army intelligence support through grad school and a vendor role at Flashpoint, then to end-user teams in financial services, building New York City’s CTI program from the ground up, and a stint at Deloitte. He explains what changes when you move from serving a broad customer base to serving specific stakeholders, and why end-user teams must also collect internally. Freddy and Sherman cover team-building: finding buy-in, keeping collection minimal, justifying budgets, evaluating vendors, and why training so often fails to change how a team works. Sherman shares the courses and books he considers foundational, including The Diamond Model of Intrusion Analysis and Heuer’s Psychology of Intelligence Analysis.A key question that comes up is what separates intelligence from data and information. Sherman offers his own definition, then breaks down what bad intelligence looks like, from marketing dressed up as analysis to context-free indicator sharing. He also explains how inconsistent terminology holds the field back. Over the last couple of years, Sherman’s view of AI has shifted from early skepticism to cautious adoption. He shares how he pairs deterministic code with LLMs to extract adversary procedures from reports, where models still hallucinate, and why analysis remains the hardest step to automate.Their advice for newcomers is to stay curious, build a pet project, and stay humble. If you lead a CTI team, want to join one, or are weighing where AI belongs in your workflow, this episode is well worth your time. RESOURCESFlashpoint - https://flashpoint.io/ Columbia University MA program - https://www.sipa.columbia.edu/sipa-education/masters-programs/concentrations/international-security-and-diplomacy SANS FOR578 CTI -https://www.sans.org/cyber-security-courses/cyber-threat-intelligence Sergio's course "Diamond Model of Intrusion Analysis" -https://school.threatintel.academy/courses/diamond/ Joe Slowik's Training - https://paralus.co/training/ Pherson's Structured Analytic Techniques (SAT) - https://www.amazon.com/Structured-Analytic-Techniques-Intelligence-Analysis/dp/150636893X/ Richards J. Heuer, Jr. The Psychology of Intelligence Analysis -https://www.ialeia.org/docs/Psychology_of_Intelligence_Analysis.pdf Scott J. Roberts & Rebekah Brown's book "Intelligence-Driven Incident Response - https://www.amazon.com/Intelligence-Driven-Incident-Response-Outwitting-Adversary/dp/109812068X/ VISMA and APT Attribution discussion - https://therecord.media/norway-says-chinese-group-apt31-is-behind-catastrophic-2018-government-hackCHAPTERS00:00 Introduction and Career Overview02:09 From Army Intelligence to Academia06:05 Vendor Versus End User Intelligence13:54 Building a Government CTI Program17:17 Training, Certifications, and Key Books25:14 Building a CTI Function37:46 Budgets, Tools, and Training Value47:28 What Counts as Intelligence52:49 What Makes Intelligence Bad01:00:06 Shared Language and Industry Maturity01:07:38 AI Across the Intel Cycle01:13:13 Hybrid LLM and Code Workflows01:16:22 AI Limits, Risks, and Democratization01:22:44 Traits for Aspiring Analysts01:25:01 Neurodivergence and Staying Humble