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Cybersecurity and Responsibilities of Members of Corporate Boards of Directors (Speech Presentation Sample)



Title: Case Study- Cyber Security
Due Date:
Cyber Security
Cybersecurity is a procedure that involves both technology and stakeholders, designed to protect a system and its components from cyber-attack ("What is cyber security? – IT Governance", 2018). Systems should be protected from cyber-attacks caused by opponents either intentionally or unintentionally. Therefore, it is important for members of Padgett- Beale Board of Directors to have a good insight of what really cyber-security is and how can each member helps in promoting it.
Cybersecurity and Responsibilities of Members of Corporate Boards of Directors
Corporates’ governance should include cybersecurity as its culture. This is most important to the board of directors since it has the mandate to set and oversee the implementation of the organization’s policies. Therefore, each board member should understand his/her roles in cybersecurity. First, the board should budget for the IT department. Cost of cyber-attacks is rapidly increasing due to the emergence of new security threats. This calls for a proper budget plan to counter the attacks. The budget should include related technology costs and training of other staff about cybersecurity.
Further, members of the board of directors occasionally review security policies to ensure that their data is secure. It is part of establishing a system of governance ("The Role of the Board of Directors | Ag Decision Maker", 2018). This is because new threats emerge on daily basis hence without a regular update of security policies then a cyber-attack is bound to occur. The board should also develop a response plan to be used in case of a cyber-attack. This plan should provide guidelines on how to respond to instances of a security breach. Thus quick recovery of services in case of an attack.
Directors should understand laws on cybersecurity. This shades more light on the consequences of a cyber-attack in regard to the applicable laws. Finally, the board should have competent cybersecurity expert. With an expert, the board can allocate adequate time for cybersecurity discussions ("NACD Publishes Five Cybersecurity Principles For Board Directors", 2018).
To bridge accountability gap, it is important to consider these recommendations. First, cyber education to members is a key factor as we all know that education empowers (Reber, 2018). It helps in understanding security policies and their implementation. The board should also track all the components in the organization’s network. This prevents malicious devices from gaining unauthorized access to the network.
Intelligence on threats should be promoted. Directors ought to be well informed on threats likely to attack the organization system. These threats are determined by regular analysis of vulnerabilities in the system. Moreover, directors should be compliant with government policies. It important to be up to date with legislation on cybersecurity as this helps in promoting required standards in systems’ security. Finally, the board of directors should be vigilant. This vigilance culture helps to honestly check the operations of a system. Therefore, one can be able to point out whether the system is normal or not. This culture helps in promoting accountability as everyone wishes not to experience cyber-attack.
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