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A great update from the Nasdaq on the SEC cybersecurity risk management proposal, and its effect on the CISO. To many tools trying to fix a problem that companies do not understand and to much time spent in incident response ‘right of bang’, is going to create challenges for CISOs. Concepts we discussed this week with HSBC corporate professional service clients (thank you Victoria Ritchie) and U.S Attorneys for Thomson Reuters Legal Education Center during our accredited cyber risk management program with Rachel V. Rose, JD, MBA and Ted Dziekanowski.
We have long said that Boards and their CISOs will need to take a different approach to the oversight and assurance of cybersecurity as a business risk, as boards become accountable for managing the risk. As we discuss in our paper on cyber board governance (https://lnkd.in/eVgsGpyx), boards will require a 3 Line Of Defense model for cybersecurity risk management and have to demonstrate independent oversight and assurance. A model recommended by the NACD (National Association of Corporate Directors). Boards will be required to demonstrate and attest that they are managing cyber risks ‘Left of Bang’ and securing their balance sheet and other financial statements.
Our work comes from 40 years of senior executive cybersecurity risk management knowledge and experience. Building and delivering cybersecuirty risk management solutions across 1st and 2nd Line of Defense. Advising boards, federal agencies and industry on cybersecurity risk management compliance and we are well qualified to provide board advice and guidance (https://lnkd.in/e93_7hG).
Please do reach out if you would like to know more. We provide board cybersecurity risk management advice, guidance and deliver solutions for boards to comply with cyber regulation.
Stephen Pitt-Walker, JD, FGIA Jamie Foster
#cybersecurity #cyberriskmanagement
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