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The challenge for the security profession is that security is falling in line with other senior management roles. Where Fiduciary responsibility and accountability is part of the job description. As the Counsel appointed expert on a few high profile cyber cases, I understand the challenges ahead for security professionals and boards, as the role of cybersecurity develops alongside changes in cyber regulation and increased fiduciary responsibility.
The role of the CISO is not being ‘criminalized’. It is falling in line with other senior accountable executives. Regulators are clear in their intentions for cyber regulation; they want leaders to take accountability and responsibility for managing cyber risk to their organizations that can effect investors, markets, supply chain security and national and economic security.
Cyber is no longer a FUD debate, but as cyber shifts ‘left of Bang’ we should be prepared for the opportunities and challenges that cyber regulation, accountability and responsibility brings to the profession and the board room. One is not convinced that given the effects of cybersecurity on national and economic security (people with bigger pay cheques than mine say this), there is an alternative, regulation, legal and compliance risk will likely be a way of life.
Ted Dziekanowski Stephen Pitt-Walker, JD, FGIA Rachel V. Rose, JD, MBA
#cybersecurity #cyberriskmanagement #cyberregulation #fiduciaryduty
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