There are two dangerous mindsets that hinder progress in cybersecurity: compliance-focused programs and treating cybersecurity as an IT-only issue. Compliance-focused programs may meet the minimum regulatory standards but fail to address real-world risks while treating cybersecurity as an IT-only issue fails to address the human factor in cybersecurity. Implement a comprehensive, systemic approach to cybersecurity that involves all aspects of the corporation, including employees, processes, and technology. The approach would help organizations develop a more strategic cybersecurity plan, addressing enterprise risks while engaging the board of directors in a more meaningful way. Read more.
Boards of directors bear the responsibility for cybersecurity governance and must have a clear understanding of the business ecosystem. We recommend elevating the Chief Information Security Officer (CISO) role, establishing Cybersecurity Risk Committees, and promoting continuous education to foster an enterprise-wide culture of managing and governing cyber-risk. By making organizational, educational, and cultural changes, organizations can substantially improve their cybersecurity governance and proactively tackle cyber risks. Read more.
It is critical to involve the CISO in board discussions as businesses adapt to the new reality of remote work and digital transformation. Regular conversations with the CISO can help boards better understand the organization's cybersecurity strategy, potential risks, and the financial impact of cyber incidents. Board members should be encouraged to ask questions without fear, fostering a better understanding of cyber risks and the board's role in managing them in an environment where open dialogue is the norm. Engaging with the CISO ensures that organizations are prepared to respond to cyber threats effectively. Read more.
Technical debt, which accumulates when organizations prioritize short-term gains over long-term technology investments, can lead to outdated and vulnerable systems. Discussing tech debt with the board and investing in technology upgrades to improve security, therefore, is critical. Regular security assessments can help identify and prioritize areas of tech debt that need to be addressed. The board plays a key role in understanding and managing technical debt by asking the right questions about the organization's strategy, budget, and the role of the CISO in addressing it. Proper management of technical debt helps reduce the risk of cyberattacks and strengthens the organization's security posture. Read more.
Hire experts with diverse backgrounds to strengthen an organization's cybersecurity. A diverse team brings multiple dimensions of expertise, including industry-specific knowledge, experience in high-pressure environments, and alternate perspectives from non-traditional industries. Military veterans, professionals from critical infrastructure sectors, and individuals with diverse cultural, gender, and age backgrounds contribute to better problem-solving and decision-making. Boards of directors are advised to prioritize diversity in recruitment and selection to create a comprehensive approach to cybersecurity, identifying vulnerabilities and mitigating potential threats more effectively. Read more.
Boards of directors should ask the right questions to their CISO and senior technology executives to ensure effective cybersecurity. Boards need to inquire about the organization's overall cybersecurity posture, protection of critical assets, addressing emerging threats, measuring the effectiveness of cybersecurity controls, and preparing for potential breaches. By engaging in regular conversations with the CISO and senior technology executives, boards gain insights into the organization's cybersecurity posture and take necessary steps to mitigate risks. Asking the right questions ensures that boards are actively involved in maintaining strong cybersecurity measures, preparing for emerging threats, and fostering a supportive environment for the CISO and technology executives. Read more.
Create an effective cybersecurity risk subcommittee within an organization to provide guidance and advice to the board of directors on cybersecurity matters. There are key steps that organizations can take to establish an effective subcommittee, including defining the subcommittee's purpose and scope, identifying members with diverse expertise, providing cybersecurity training, assigning a chairperson, establishing a regular meeting schedule, developing a work plan, and reporting to the board of directors regularly. The subcommittee's agenda should cover various topics such as cybersecurity risk management, emerging threats, incident response planning, cybersecurity insurance, third-party risk management, employee training, regulation and compliance, budget allocation, data protection, technology debt, technology roadmap, and cybersecurity metrics and reporting. By establishing an effective cybersecurity risk subcommittee, organizations can enhance their cybersecurity governance and risk management capabilities. Read more.
Prepare organizations for the worst-case scenario: a major data breach and outage by having a robust incident response plan and conducting regular tests to ensure preparedness. Key steps include appointing a breach response team, identifying critical systems and data, containing the breach, investigating the breach, notifying affected parties, implementing remediation measures, communicating with stakeholders, and reviewing and improving security measures. Another useful tactic is conducting simulated breaches (wargames) and employing white-hat hackers to test and strengthen an organization's cybersecurity defenses. By preparing for a major data breach and outage, organizations can mitigate the risks and minimize the impact of a cyber incident. Read more.
Celebrating victories in cybersecurity, which is often overlooked due to the nature of the field, is important to boost morale. Success in cybersecurity means that nothing happened, which can make it challenging to identify and celebrate accomplishments. However, recognizing and celebrating successes is vital for building morale, motivation, and fostering a positive culture. The board plays an important role in acknowledging and celebrating the security and technology team's efforts through formal recognition programs, awards, or simply appreciating their contributions. It is also important to celebrate both individual and organizational successes to build a positive corporate culture, foster unity, and encourage collaboration across departments. By celebrating victories in cybersecurity, organizations can create a sense of pride, purpose, and commitment in their cybersecurity teams, which can help improve their cybersecurity posture and reduce the risk of cyber incidents. Read more.