Addressing cybersecurity at the senior leadership or board level requires a multi-pronged, enterprise-wide approach. Here are five best practice guidelines corporate leaders can use to help guide their organization’s cybersecurity risk management strategy.
To succeed, a cybersecurity risk management strategy must be addressed at the highest level—senior leadership or, where applicable, the board. It’s true what the experts say: cybersecurity is no longer just an IT issue. Senior leadership and boards are uniquely situated to coordinate risk management across various levels and departments of the organization, and this level of leadership has become critical to managing cyber risks.
Empower management and set expectations
Set clear expectations about management’s duty to develop a comprehensive, realistic strategy for every level of the organization. With those expectations established, set management up for success by providing concrete support in the form of an appropriate budget and staff.
Know your risks
Effective leadership requires information. Stay informed and updated on organization-specific cyber risks. Make connections to experts in the field and pay attention to industry updates and learn to use that expertise to anticipate and stay ahead of changes.
Provide high-level risk strategy to help management prioritize cybersecurity risks. With its big picture outlook, an informed senior leadership team is in the best position to determine how to respond to certain categories of cyber risk. Assisted by expert advice, create specific plans for each risk category. And don’t forget insurance.
Prepare for trouble
Develop policies and procedures to follow in the event of a breach and understand senior leadership’s role in that response. Cybersecurity breaches happen rapidly and require many fast decisions. Build a detailed plan and prepare a carefully selected rapid response team in advance. If you have any questions, contact your Dinsmore attorney.