This presentation addresses the imperative of understanding and managing cybersecurity risk at the board level. Despite the growing threat landscape, only a minority of board members recognize their organization’s high vulnerability to cyber-attacks, and nearly half feel unprepared for such incidents. It underscores the importance of board engagement in cybersecurity, highlighting the challenges and necessities of complying with new SEC cybersecurity disclosure requirements.

The NACD Cyber Risk Oversight Principles are introduced, urging boards to view cybersecurity as a strategic risk and ensure comprehensive risk management frameworks are in place. The presentation also sheds light on the typical profile of board members, often senior executives unfamiliar with the nuances of cyber risk, pointing towards a significant knowledge gap.

To bridge this gap, actionable steps for boards and management are outlined, emphasizing the need for effective communication, risk reporting, and a robust cybersecurity program. Finally, it provides guidance on how to present cybersecurity issues to the board, focusing on clarity, relevance, and the facilitation of insightful discussions to enhance cyber-risk oversight.