Why should boards of directors take an interest in cybersecurity?
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In today’s digital landscape, cybersecurity is no longer just an IT issue; it’s a strategic business imperative. Boards of directors play a pivotal role in safeguarding their organizations against cyber threats, ensuring regulatory compliance, and maintaining stakeholder trust. Boards of directors must be particularly concerned with:
- Risks for the company: Assessing the potential impact of a cybersecurity incident (financial loss, damage to reputation, disruption to operations). Cybersecurity threats also engage the company’s legal responsibilities.
- Compliance and regulations: Regulations and laws are evolving – boards of directors must ensure data security and privacy.
- Competitiveness and customer confidence: Cybersecurity can be a competitive advantage and a way of boosting customer confidence, especially for companies with sensitive data.
How can boards get involved with external partners?
- Selecting the right partners: Choosing specialized cybersecurity partners (e.g., for audits or threat monitoring) is essential to fill internal expertise gaps as well as ensure proper segregation of duties.
- Collaborative approach: Ensure a transparent and collaborative relationship with external partners for proactive cybersecurity. This includes sharing strategies, emerging threats, and best practices.
- Contractual requirements: Boards should be involved in developing performance criteria for partners, including compliance clauses, performance targets and clear expectations.
KPIs and key issues to monitor
Key KPIs:
- Security incident rate: Number and severity of security incidents over a given period.
- Mean time to detection and response: Measuring the time between incident detection and response.
- Compliance: Monitoring of certifications (ISO, SOC) and compliance frameworks.
- Cybersecurity training status: Number of employees trained and frequency of awareness sessions (or human firewall).
Key questions to ask:
- Are we prepared for a major cyberattack?
- What are our main cybersecurity risks, and are we prepared to deal with them?
- How does our cybersecurity posture compare with that of our industry?
- Are our cybersecurity partners appropriate and effective?
- What are the current weaknesses in our security infrastructure?
- What indicators show that our organization is making progress in cybersecurity?
- What additional investments are needed to strengthen cybersecurity?
How can Secur01 help you?
- Would you like expert guidance to ensure effective incident response in the case of cyberattacks?
- Do you need to understand your security posture and vulnerabilities in your infrastructure?
- Do you need to define key indicators and reporting on cybersecurity issues to the board?
- Would you like to implement measures to strengthen your cybersecurity posture?
- Do you need help responding to a security or confidentiality incident (Act 25)?
