Should Cybersecurity be a Part of Your Board’s Agenda?

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Should Cybersecurity be a Part of Your Board’s Agenda?

Sophisticated cyber attacks hold all the power to bring businesses to their knees. That being said, if cyber security is given serious consideration, especially by those leading the company like the leadership or the board of directors, a lot can be done to save businesses from damaging cyber attacks. Keeping discussions and decisions related to a critical vulnerability can lead well-established companies to a disastrous data breach.  

The role played by the board of directors in companies is unique with the utmost power to bring a significant change in the organization. Therefore, keeping the current cyber security scenario in mind, managing cyber security threats should be one of the biggest agendas to discuss in board meetings. Asking the right questions and taking quick but smart decisions is the only way to secure organizations from crippling cyber attacks. Asking questions is not just crucial for making major decisions to secure your network, but it also helps raise awareness of the consequences of negligence in cyber security and the high priority it should be given.

Some of the most important questions that should be asked in board meetings concerning cyber security are: 

  • Are legal and regulatory implications of cyber risks evaluated by the management? 
  • What will be the responsibilities of the board in case of any data breaches? 
  • Does the senior leadership have clear visibility of the business impact a breach could cause?
  • Has the management put any threat detection techniques powered by artificial intelligence? 
  • Keeping in mind the Geo-political risk landscape, is the management prepared to get cyber solutions? 
  • Has there been any cyber attack recently? If any, what influence did it have on the organization? 
  • Is the organization covered by cyber insurance? 
  • Has it been discussed which risks can be avoided and which should be mitigated at the earliest?
  • Has the management involved third-party cyber security consulting firms to get a better idea of the risk mitigating and to create a cyber strategy?
  • Has the cyber strategy been created in liaison with cloud service providers? 
  • Will the cyber strategy be able to adapt to changes quickly as per the ever-expanding cyber risk landscape? 

Hard-hitting questions like these can help the board contemplate the cyber risk in a more serious manner. High-time cyber security is given the importance it deserves.

It is not just the management of the organization that needs to understand the implications of cyber attacks and take mindful decisions against cyber-risks, but also the junior and mid-level employees. There are not one but numerous misconceptions about cyber security. If those misconceptions prevail in your organization, a cyber security training program should be the first on your employee development program’s ups killing list. Cyber security consulting firms offer various services to bring awareness to cyber security among organizations’ staff.

Has COVID-19 bought any change in the functioning of your organization?

A lot has transformed in the working procedures of businesses since the advent of COVID-19. Now many businesses have the potential to be conducted remotely. To accommodate this significant change, organizations have to manage their business strategies in a more agile and holistic manner. 

With adequate supervision and a proactive approach from the board of directors, the companies’ cyber security measures can be made a critical part of business management. Albeit, the risk of cyber incidents cannot be completely eliminated, taking assistance from cyber security consulting services will be a great way to go about building and implementing an effective cyber defense system. Security consulting firms can also introduce organizations to some vigilant and highly resilient cyber security programs. One of the best cyber security consulting firms in the U.S. is Cyberware AI. It offers various services like security gap assessment, cyber security training programs, and cyber security management services. Cyberware AI is a U.S. military registered vendor with years of experience in safeguarding U.S. government assets around the world.  

To minimize the cyber risk, it is the responsibility of the board to consider the current risk scenario and provide both insight and oversight on the issue of cyber security. 

Cyber breaches do not just affect companies financially but also damage their reputation, therefore affecting the overall functioning. Not taking powerful security measures would be equivalent to allowing your adversaries to hinder not just your company’s growth but its existence. 

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