Cyber Risk Governance a Key Responsibility for Boards of Directors
[icon name=”newspaper-o” class=”” unprefixed_class=””] Virtual Strategy Magazine
Amid growing demand for accountability and assurance that data, trade secrets, and infrastructure are secure from cyber- attacks, boards of directors often find themselves without clear guidance on their responsibilities as governors. This week, the Directors and Chief Risk Officers group (“the DCRO”) published Guiding Principles for Cyber Risk Governance to help boards and those who depend on them assess the practices their organizations use.
“It’s no longer a question of whether a company will be attacked but more a question of when, and what the company is going to do about it,” said David X Martin, former Chief Risk Officer of asset manager Alliance Bernstein and co-Chair of the DCRO Cyber Risk Governance Council. Along with former SEC Commissioner, Roel Campos, Martin co-chaired the initiative that brought together experts from around the world to assemble these principles.
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