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The debate is not so much one of how can CISOs work with boards to deliver value and create competitive advantage. The debate for many companies in the EU and US is how can CISOs work with Boards to deliver cybersecurity regulatory compliance.
Cybersecurity regulation across the EU and US is changing the risk transfer conversation. Gone are the days where boards can rely on Cyber Insurance as a tool for risk transfer. EU and US regulators are moving quickly to enforce governance, oversight and assurance of cybersecurity risk management in boardrooms.
A process that has been happening over the past few years and is now making its way into the sunlight. Bringing with it consequences that include independent regulatory assurance, demonstrable compliance, incident reporting and individual and corporate civil and criminal penalties.
The debate is no longer one of how does cybersecurity demonstrate its value to the board and work with the board. The Question is one of how will the board leverage its cybersecurity resources to demonstrate regulatory compliance, to demonstrate proactive management of risk and to allocate the appropriate capital to manage risk. Whilst developing cybersecurity as a competitive differentiator and a capability that supports the board meet its fiduciary, legal, risk and compliance duties.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan
Veritas GRC NACD (National Association of Corporate Directors) Institute of Directors (IoD) McKinsey & Company
#cybersecurity #cyberriskmanagement #cyberregulation #corporategovernace
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