Cybersecurity has assumed a critical role in light of the changing digital landscape and organizational board members cannot afford to be ambivalent at this point. With the growing threat of cyber risks, board members will have to play a more active role to ensure that their organizations are duly protected. Cyberteq, a leading cybersecurity company in Ghana delivers 11 key reasons why board members must be trained in and remain on top of strong cybersecurity practices:
Explanation of Cyber Security Risks
While it is expected that board members would have little to no technical knowledge, they need to equip themselves with some fundamental knowledge on organizational cyber threats and risks. Cybersecurity training would enable them to understand the evolving threat landscape and how these threats could impact their business.
Making the Right Choice
With that kind of foundation in cybersecurity, board members would stand in good stead to make decisions about resource allocations, priority setting, and approving security initiatives, thereby balancing investment in cybersecurity with other strategic goals.
Legal and Regulatory Compliance
There are established rules for the protection of data and cybersecurity that apply in many industries and jurisdictions. Boards are supposed to ensure that their organizations comply with such regulations. Cybersecurity training allows boards to comply with such needs and prevents them from legal problems.
Effective Management of Risk
Cybersecurity is a key element of risk management. Such training equips the board members with the needed tools for identification, assessment, and management of cyber risks in a way that eventually makes the organization more secure as a whole.
Budget and Resource Allocation
Board members are essentially the ultimate gatekeepers of funds and resource allocations. Cybersecurity training affords them a greater understanding of their organization’s cybersecurity needs and the accompanying budget needed to tackle associated challenges.
Crisis Response
The board plays a critical role in the event of a cybersecurity incident, such as crisis response and decision-making. Adequate training prepares the response to be both quick and effective in helping to minimize damage and safeguard the organization’s reputation.
Communicating with Stakeholders
Many of the board members interface with stakeholders such as shareholders, customers, regulators, and the media. A good grasp of cybersecurity allows them to communicate clearly and confidently about the organization’s cybersecurity posture incident response, and measures taken to protect sensitive data.
Assessing Cybersecurity Leadership
This ensures that board members are trained to assess the performance of cybersecurity leaders, such as a CISO or CSO, by knowing what questions to ask and whether the security program is effective.
Setting a Good Example
Board members are the main drivers of organizational culture. When cybersecurity is prioritized, it sends a clear message to the entire organization about the level of importance attached to it. This cascades to the very bottom of an organization, ensuring that a healthy cybersecurity culture is developed.
Adapting to Emerging Threats
Cyber threats are constantly evolving. Training ensures that board members are abreast of all new threats, leading to the development of evolving strategies for the organization that can effectively handle the emerging threats.
Building Trust and Confidence
Trust is key for an organization’s stakeholders. Training would demonstrate a commitment to cybersecurity and build confidence with the organization’s customers, shareholders, and business partners.
Engaging in cybersecurity training helps board members understand and oversee cyber risks, which likely contributes to inculcating good security practices throughout an organization. This would protect the organization not only from cyberthreats but also safeguard its reputation as a safe and reliable entity.
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