This call for greater board liability will extend as governing bodies worldwide recognize the resounding impact a cyber event can have throughout the economy. With research demonstrating that greater cooperation between boards, C-suite executives, and security teams leads to minimized impact, organizations would do well to start incorporating well-structured cyber risk governance practices into the boardroom.
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One of the most prominent obstacles spain whatsapp number data preventing cyber risk management from being incorporated into broader business objectives is the communication factor. Although they acknowledge its importance, board members typically don’t have cybersecurity expertise. This limitation prevents the technical concepts and achievements of CISOs and security leaders from being understood in tangible terms.
However, by translating these technicalities into event likelihoods and potential financial implications, board members can comprehend the immense value of cyber risk management initiatives. Regulators, too, better understand these terms, and we should expect that they will be more explicit in requesting the potential monetary impact of cyber risks.