The New Face of Corporate Governance: Why boards need to prioritize cybersecurity training (11)

Preamble:

“One of the main cyber-risks is to think they don’t exist. The other is to try to treat all potential risks.
Fix the basics, protect first what matters for your business and be ready to react properly to pertinent threats. Think data, but also business services integrity, awareness, customer experience, compliance, and reputation.” At a boardroom or at a ‘nuke proof’ datacenter, a Chief Information Security Officer participates in creating and protecting the digital value. The role of a CISO evolves from a ´policeman of computers´ to a ´dietician of risk appetite´. For success in digital transformation, turn the comprehensive risk management and cybersecurity into key business differentiators.” ― Stephane Nappo

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What Directors should do to avoid Cyber threats and attacks?

Directors play a critical role in ensuring the cybersecurity of their organizations. To avoid cyber threats and attacks, they should take the following steps:

1. Develop a cybersecurity strategy: The board should work with senior management to develop a comprehensive cybersecurity strategy that identifies potential risks, outlines procedures for incident response, and establishes protocols for ongoing monitoring and testing of the organization’s cybersecurity measures.

2. Understand the organization’s cybersecurity posture: Directors should have a clear understanding of the organization’s current cybersecurity posture, including any vulnerabilities or weaknesses that may be exploited by cyber criminals. This can be accomplished through regular audits and assessments of the organization’s security systems and procedures.

3. Provide adequate resources: Directors should ensure that the organization has adequate resources to implement and maintain effective cybersecurity measures. This may include investing in new technologies, hiring qualified cybersecurity professionals, and providing ongoing training and education for employees.

4. Implement robust access controls: Directors should implement access controls that limit access to sensitive information and systems to only those employees who need it to perform their jobs. This can be accomplished using multifactor authentication, password policies, and other security measures.

5. Stay informed about emerging threats: Directors should stay informed about emerging threats and vulnerabilities that may affect the organization. This can be accomplished through ongoing education and training, attending cybersecurity conferences and events, and subscribing to industry newsletters and publications.

6. Develop a culture of security: Directors should work to develop a culture of security within the organization, where employees are aware of the risks of cyber threats and are encouraged to report any suspicious activity. This can be accomplished through ongoing training and education, regular communication about cybersecurity best practices, and incentivizing employees to prioritize cybersecurity.

7. Plan for incident response: Directors should develop a clear plan for incident response in the event of a cyber-attack. This should include procedures for identifying and containing the attack, notifying relevant parties, business continuity and restoring systems and data.

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What should a robust Cybersecurity training for Directors Cover?

A detailed board training on cybersecurity should cover a range of topics to ensure that directors have a comprehensive understanding of the threats and risks facing their organizations, as well as the steps that can be taken to mitigate those risks. Below is an outline of potential training program topics for Directors on Cybersecurity with training summaries for each topic:

I. Introduction to Cybersecurity

II. Cybersecurity Governance

III. Cybersecurity Risk Management

IV. Cybersecurity Operations

V. Cybersecurity Culture and Awareness

VI. Third-Party Risk Management

VII. Cybersecurity Metrics and Reporting

VIII. Emerging Trends and Threats

Conclusion

Cybersecurity threats will continue to rise, with cyber-attacks becoming increasingly sophisticated and damaging. As a result, organizations are under constant pressure to ensure their data and systems are secure. Hence, many boards and management teams need to equip themselves with the necessary cybersecurity knowledge and expertise to protect their organizations effectively.

By taking steps to enhance their cybersecurity knowledge, directors can help to protect their organizations from the growing threat of cyber-attacks. Cybersecurity training can help boards and management teams develop a comprehensive understanding of the risks and threats facing their organizations, as well as the steps that can be taken to mitigate those risks. Ultimately, prioritizing cybersecurity training can help to safeguard organizations and ensure their long-term success in the face of an ever-evolving cybersecurity landscape.

In conclusion, directors can play a critical role in protecting their organizations from cyber threats and attacks by developing a comprehensive cybersecurity strategy, staying informed about emerging threats, implementing robust access controls, providing adequate resources, developing a culture of security, and planning for incident response. By taking these steps, directors can help to ensure the long-term success and stability of their organizations in the face of an ever-evolving cybersecurity landscape.

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Concluded

Celine . Okoroma-Vincent is a Lawyer, Corporate Governance & Compliance Specialist