Cyber Risk in the Boardroom

Boards must recognise that cyber security can no longer be confined within the domain of ‘IT risk’ and is a major risk factor that requires focus, resources, leadership and governance.

The Global Risks Report 2018 published by the World Economic Forum has once again listed cyber security as one of the top risks faced by businesses of today. In fact, cyber security is ranked 3rd in terms of overall likelihood of occurrence and hence, reaffirms the pressing and urgent need for boards to prioritise this issue. Unsurprisingly then, there is an increasing number of investors and regulators challenging directors to demonstrate interest, diligence and leadership in this area. Within the given context, this 1-day programme is aimed at creating awareness and deepening the understanding of the various cyber security threats that may disrupt business operations as well as the necessary responses and initiatives to boost the overall cyber security. This is inclusive of the oversight, governance and management aspects that are underpinned by effective board leadership in this area.

Learning Outcomes

• Recognise the importance of an effective cyber risk management to corporate performance
• Understand the oversight responsibilities of the Board in managing cyber risk
• Develop an approach in managing cyber risk
• Plan the direction in corporate responses to other business risks, such as liquidity or supply chain risk
• Formulate specific questions to ask management in order to understand the organisation’s evolving cybersecurity stance
• Identify processes to monitor performance and roles for corporate boards