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The simple answer is yes. Cyber is a risk that the SEC is paying close attention to, as are European regulators. It’s also a risk that cuts across E, S and G and a risk that should be managed by boards and is being priced in by rating agencies. We have seen rating agencies recently evaluate cyber risk against debt and sovereign nations (https://lnkd.in/eGYGWdkx).
Cyber is a top 5 risk by the World Economic Forum behind environment, geopolitical and social risks, and asset managers are increasingly ranking cyber as a top 2 risk. Investors and regulators should be informed of material risks that impact on corporate performance, and cyber is one such risk.
Having worked with credit risk and M&A teams to develop cyber assessment and evaluated cyber incidents for regulators, the oversight and assurance of cyber risk management would make ESG compliance look like a walk in the park. One simply has to examine the issues the insurance industry has with effectively underwriting cyber risk, or the challenges the U.S DoD is having with its DFARS program to appreciate how difficult it is to assess cybersecurity risk management compliance and cyber maturity nationally and internationally across supply chains.
Saying that, we have created solutions to evaluate cybersecurity maturity, board governance and education, and created programs to that support boards achieve compliance. Ted Dziekanowski
#cybersecurity #cyberriskmanagement #cyberlaw #cyberregulation #theaugustagroup
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