Cybersecurity has moved from an IT issue to an urgent Corporate issue. Yet, Directors typically spend little time preparing for or addressing cybersecurity threats in the boardroom. Issues like damaging viruses and undetected codes, theft of confidential information, and denial of cyberattacks are three of the most common threats today. Imagine the confidentiality impact of an unlawful disclosure of a firm’s customer database. Fortunately, the National Association of Corporate Directors published these five important questions that can guide Boards in addressing cybersecurity issues:
- How likely is the company at risk for a cyberattack?
- Does the company have valuable assets (digital and physical), how is the company protecting them, where are these valuables stored?
- What are the steps directors can take to guarantee their company is trusted?
- Describe the level of risk a company can afford in a cyberattack.
- Does the company know the steps to take in an event of a serious cyber breach?
Having conversations in the boardroom around these questions can help companies plan for or even prevent cybersecurity threats. Contact Maureen Hurd to identify and recruit board members with a strong cybersecurity background.