Principles of Board Governance of Cyber Risk
Given the growing pervasiveness of cyber risk, some financial institutions may look to recruit board directors with specific cybersecurity expertise. While the need for such specialized directors is becoming a more frequent topic of discussion, there is no universal solution that applies to all organizations. Institutions should first evaluate whether it would be more beneficial […]
Given the growing pervasiveness of cyber risk, some financial institutions may look to recruit board directors with specific cybersecurity expertise. While the need for such specialized directors is becoming a more frequent topic of discussion, there is no universal solution that applies to all organizations. Institutions should first evaluate whether it would be more beneficial to enhance the entire board’s understanding of cyber risk, rather than depending on the expertise of a single member. Additionally, boards must assess how their existing cyber-risk management structures align with board responsibilities, consider the availability of qualified “cyber experts,” and define the specific skills or knowledge required in a potential candidate.
Link to article: Principles for Board Governance of Cyber Risk (harvard.edu)
