Thank you to the Risk Coalition and Chris Burt for allowing me to present to their community of Non-Executive Directors and Chief Risk Officers

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Thank you to the Risk Coalition and Chris Burt for allowing me to present to their community of Non-Executive Directors and Chief Risk Officers (CRO) last week. Discussing cybersecurity risk management and cyber risk regulatory compliance, now U.S and EU regulators have started to regulate cyber risk. The SEC final cyber rule is effective as of the 18th of December, and EU member states are transposing EU NIS 2 and DORA ahead of the October 2024 deadline.

Cyber regulatory compliance is a now a legal issue, as boards can face both civil and/ or criminal penalties. It is important that covered entities demonstrate their management of cyber risk through solid governance. With oversight and assurance from both the 2nd and 3rd line of defense risk and audit functions. Ahead of board attestation to regulators.

As covered entities present their compliance through regulatory fillings, other market participants will evaluate their ‘Left’ and ‘Right’ of bang cyber risk management information. Information that will be used by internal and external General Counsel to assess compliance.

Ted Dziekanowski Brian D. McCarthy Rich Waite, M.Ed. George Sawyer

#cybersecurity #cyberriskmanagement #cyberregulation

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