Many organizations struggle to recognize the critical role of cyber threat intelligence (CTI) within a risk-based cyber program. As traditional approaches to CTI remain largely myopic and tactical, they often fail to address the full spectrum of contextual variables contributing to an organization’s complete risk profile. Organizations seeking to reduce overall risk also require comprehensive awareness of all relevant actors, campaigns, externalities, and vulnerabilities, most of which emanate from the Deep & Dark Web. Only when applied and operationalized strategically across all business functions can CTI provide the visibility required to address risk. This presentation examines the traditional equation for risk to demonstrate how organizations that leverage a strategic, contextual approach to CTI can not only detect and address relevant threats but reduce their overall risk more efficiently and effectively.