Consider Cybersecurity in Succession Planning for the Board
Benjamin Franklin is quoted as saying “If you fail to plan, you are planning to fail.” And that old quote couldn’t be more applicable to bank board...
An article that I stumbled upon a few weeks back has me wondering just that... Do boards of directors at financial institutions need a cybersecurity expert?
The article on Harvard Business Review is from a year ago, and it actually made the argument that banks should have a technology expert as a member or advisor, but only one year later, anyone not living in a cave would say that "technology" could, or should be replaced with cybersecurity.
The FFIEC even went into great detail in their November 2015 update of the IT Management Handbook, on how involved the board should be in cybersecurity. (more about that in my post here)
It may be time to consider adding cybersecurity experience to your board or even seeking an outside advisor...
FDIC Article Provides Insights on Where to Focus Your Efforts on Cybersecurity
Chris Bedel : Feb 10, 2016
It’s no secret that Governance, Threat Intelligence, Security Awareness Training, and Patch Management are all part of a solid cybersecurity program,...
Three Critical Challenges for Bank Audit Committees - #1: Cybersecurity
Chris Bedel : May 17, 2016
Because Cybersecurity is a business issue, not just an IT issue, the risk that it brings should be addressed by all areas of the financial...