Call us now:
‘Cyber is reaching an inflection point’. Cyber is becoming a high risk game for boards as regulators focus in on cyber risk management, corporate governance, cyber strategy and risk mitigation. With regulators, institutional investors and credit rating agencies playing very close attention to cyber risk management and its impact on corporate performance.
Cyber is moving ‘left of bang’ at a time when many organisations have historically failed to address the problem, there is a global shortfall in skilled and experienced cyber resources, and market forces have failed to reduce the impact of attacks. We explain in our paper here https://lnkd.in/ecukvdWd the corporate transformation required as cyber security moves ‘left of bang’.
As a start organisations outside of Financial Services should evaluate the regulated approach Finance firms are required to adopt for corporate governance, risk and oversight. A model we are familiar and have created a Target Operating Model and Governance framework for board cybersecurity risk management oversight, assurance and attestation.
While the table in the HBR and ISS review is insightful and heading in the right direction, the demonstration of accountability and responsibility will come from the proposed SEC and EU (DORA, EU NIS, CRA) disclosures of cyber risk, oversight, assurance and attestation. Filings will be more detailed and evaluated in great depth, especially following a cyber breach and existing market sentiment.
Ted Dziekanowski
#cybersecurity #governance #cyberriskmanagement #governance #theaugustagroup
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