The vulnerability of information on digital platforms constitutes an unprecedented risk and the undermining of customer trust goes straight to the bottom line.
This calls for a new governance framework from top to bottom where,
- Board members hold senior management accountable for cyber-security and privacy as they do for financial integrity: without knowing all the right answers, but knowing all the right questions.
- CEOs are where the buck stops for cyber-security and privacy policies as for any issue integral to profitability, effective management, workplace ethics and consumer trust.
- CPOs and CIOs work together understanding their inherent overlap: if personal information resides in cyber-infrastructure, privacy resides in cyber-security.
- Business line managers ensure implementation of cyber-security and privacy policies through staff supervision and training.
- Staff endorse cyber-security strategies as a matter of ethics, honouring consumer trust.