Call us now:
A timely article on Governance and Banking, not only as regulators look to focus their attention on governance strategy and frameworks, but financial Institutions look to improve corporate governance. (FDIC 2023 guidance)
Faisal Khan, it is not just Financial Institutions that must place emphasis on good corporate governance. Regulators including the U.S. Securities and Exchange Commission and European Parliament issued cybersecurity risk management regulation, that focuses on corporate governance for compliance.
Regulation requires entities to demonstrate corporate governance over cybersecurity risks and boards to oversight, assurance and attest cybersecurity risks. Including:
1. Defining the companies cyber risk appetite.
2. Implementing Cybersecurity risk management frameworks and standards.
3. Demonstrating the alignment of cybersecurity programs to risk.
4. Providing board oversight and assurance of cybersecurity risks.
5. Demonstrating risk remediation.
6. Attesting compliance to cybersecurity regulation.
For many organisation this will be a new exercise. As they have likely not considered the management of cybersecurity risks under a regulatory lens.
We at Veritas GRC believe that cybersecurity risk management regulatory compliance has to be delivered through a robust process of corporate governance. Our board programs enable the oversight, assurance and attestation of cybersecurity risk; risk remediation; and facilitate boards demonstrate compliance to cyber regulation. As we demonstrated this week to members of the legal community across the The Cooperation Council for the Arab States of the Gulf (GCC) region.
@Thaddeus Dziekanowski Brian D. McCarthy Ryan Buckner Rachel V. Rose, JD, MBA
#cybersecurity #cyberriskmanagement #cyberregulation
View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7212356136484646912