Cybersecurity is mission-critical for all companies, large and small, privately held or publicly traded, and boards of directors have the fiduciary responsibility to assure that their organizations are well protected. To guide all board members on this journey, we have developed a seven-step process relevant to board members that covers key cybersecurity topics for managing cyber risk.
As a board member, your role centers on overseeing enterprise risk (including cyber, but also operating risk, credit risk, market risk, etc.). Managing cyber risk requires understanding fundamental factors that influence and affect your organization’s exposure to cyberattacks. Regulatory pressures, technical challenges, organizational culture, and business partnerships all directly impact your organization’s cyber
risks. This book comprehensively looks at various elements to consider when assessing, managing,
and acting to improve your organization’s cyber risk.
Cybersecurity may have served as a mere component of risk oversight in the past, but it has climbed the ranks of important risks on both the probability and impact scales. Cyberattacks have not only become omnipresent, but have also created severe financial loss in addition to significant reputational damage.
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