Cybersecurity and risk management: lead from the C-suite
The World Economic Forum ranks cybersecurity as the fifth-greatest threat to global stability—bested only by war, drought, climate change, and unemployment. The relentless evolution of cybersecurity threats should prompt corporate leaders to deal with them from the c-suite rather than leaving the task to their risk management or the IT departments alone.
At a glance
- Cybersecurity risks must be addressed like any other business risk—and integrated into an enterprise-wide risk management framework.
- Many top executive teams still view cybersecurity as too technical an issue to manage
- It’s more vital than ever that procedures for handling cyber concerns get incorporated into an overall risk management regime.
- Businesses need to define the cybersecurity investments they need to make and build a practical roadmap for defending themselves from these growing threats.