Business leaders play a vital role in shaping an organization’s cyber security culture. Typically, boardroom discussions focus on a company’s daily operations and finances. However, as cyber threats continue to proliferate, it’s imperative that cyber security becomes an integral part of boardroom discussions. Given the ever-changing threat landscape and demanding regulatory requirements, raising awareness and prioritising cyber security in boardroom discussions is essential.
Changing digital landscapes and nefarious actors exploiting those advancements place many organizations at risk. For this reason, cyber security should become a significant part of boardroom discussions.
Herein lies the role of business leaders in cyber security.
It’s well known that when a cyber attack hits an organisation, the consequence would be the following:
- Loss of customer data
- Reputational damage
- Financial loss
- Intellectual property theft
We can’t prevent a hack from happening, but we can reduce the impact a cyber-attack may have on an organisation. To minimize the effect, significant improvements to security features should be implemented. This could only be accomplished with the approval of a business leader.
What role do business leaders play in cyber security, and how can they integrate themselves into the process?
As mentioned earlier, business leaders have the final say in approving or rejecting a department’s request. Therefore to make the right decision, business leaders must also consider cyber security in boardroom discussions.
Their key roles include:
- Business leaders ensure cyber risk assessments are conducted properly and regularly. This method could determine an organisation’s security status.
- Business leaders must decide which security standards to follow to maximize security.
- Keeping data secure and adhering to compliance regulations are critical concerns for business leaders. If a third-party audit finds a compliance violation, it is not the security team that is held accountable but the business leader.
- It is imperative for business leaders to gain control over data. This will result in removing old and unwanted data from the database and retaining only the data that is necessary.. Consequently, if a cyber attack occurs, its impact will be limited.
- Moreover, recurring meetings must be established to address cyber risks.
Keep business leaders and IT professionals in sync with these key points:
Refrain from using technical jargon
Give business leaders a simple explanation of what’s going on in cyber security. This way, business leaders could also become an integral part of digital security. Communication of the security teams’ needs in simple terms could assist business leaders in formulating strategies since they are well-experienced in making decisions.
Establish a strong risk management culture
In order to achieve this goal, it is not necessary to set a specific tone, but rather to reinforce the importance of risk management in the workplace until it becomes ingrained in the daily routine. Professionals in the IT industry should discuss cyber risks and the importance of risk management regularly. It will instil a cyber-risk consciousness in business leaders. As business leaders become familiar with cyber security, the risks associated with it and any risks within the organisation are taken care of, thus creating a solid risk management culture.
Cyber security is not solely the responsibility of experts, but also of business leaders and executives. Despite every business’s efforts to use the latest technologies, only a few are aware of the vulnerabilities and bugs they carry. Business leaders who engage in continuous discussions with CISOs, IT professionals, and security professionals will become adept at securing their networks.