In today’s world, where technology connects us all, the security of our digital information is more important than ever. Richard Marshall, who is the chairman of the board for Cinturion Group, knows this well. His company is building a massive fiber optic network called the Trans Europe Asia System (TEAS), which spans many countries. Some of these countries don’t get along well, which makes securing the network a big challenge.
In the past, people like Richard, who lead companies, may have left the job of keeping digital information safe to the tech experts. Those experts are sometimes jokingly called “propeller-heads.” But things are changing. High-stakes problems like ransomware attacks, which lock up a company’s data until a ransom is paid, have made it clear that everyone, including those at the top, needs to be involved in cybersecurity.
Today, almost 9 out of 10 board directors see cybersecurity not just as a tech issue but as a real business risk, according to the research firm Gartner. Boards are getting younger and more tech-savvy, and they’re starting to step up to help prevent digital disasters.
The government is also paying attention. The Securities and Exchange Commission (SEC) wants publicly traded companies to be open about how their boards handle cyber risks. They’re also considering making it a rule to have board members who know about technology or cybersecurity.
Right now, not many boards have experts in technology. A study shows only about 17% of public companies have these tech-smart directors. Finding good Chief Information Security Officers (CISOs) is tough, too. The SEC points out that cyber risks are big threats to companies, and investors care about how well a company can protect itself online.
So, how can board members who don’t know much about tech get better at handling cybersecurity?
Here are some suggestions from the experts:
1. Bring a cybersecurity expert onto the board. They can give deeper insights into important security issues.
2. Talk about cybersecurity regularly at board meetings, not just once in a while. It should be a key topic every time.
3. Focus on bouncing back from attacks, not just trying to stop them. It’s about being ready to recover quickly with little damage done.
4. Board members should learn some cybersecurity basics. Courses are available that teach the essentials.
5. CISOs and board members should build a strong relationship. Talking often can help them work together better.
Cybersecurity is a big deal, and it’s clear that those in charge need to know their stuff to protect their businesses. That’s where Diversified Outlook Group comes in. If you’re looking to strengthen your company’s cybersecurity defenses and you’re not sure where to start, we’re here to help. Feel free to reach out to us at support@diversifiedoutlookgroup.com.
For more information on the original discussion of how boards can improve their cybersecurity governance, you can read the full article here: www.csoonline.com/article/3811698/5-ways-boards-can-improve-their-cybersecurity-governance.html.