We informed AI of the current state of affairs with who should manage cybersecurity risks and tasked the AI to write an article. Here is that article:
Cybersecurity, affectionately known as Cyber, is no longer the exclusive realm of IT departments and their cryptic code-talk. No, my friend, this is no longer the case. In our tech-dominated world, Cyber is, in fact, everyone's problem. And by everyone, I do mean everyone - from board directors to executive officers. And if you've shoved Cyber in the IT corner of your company, you're playing a risky game. As per the recent IBM study, a shocking 68% of companies do not have a Cybersecurity Advisory Committee. Now that's a statistic that raises eyebrows, don't you think?
Once upon a time, seasoned Director Karen Moore questioned, "Why would we need a Cyber Advisory Committee?" The answer, my dear Karen, is more critical than you might think. Cyber isn't just about thwarting those pesky hackers. It's an integral element of corporate governance that can directly impact everything from business continuity to stock prices. Underestimating its importance is like driving on a highway blindfolded. Sooner or later, you're going to crash.
"But wait a minute!" I hear you exclaim. "We're not tech wizards! How are we supposed to advise on Cyber matters?" Here's the key - you don't have to be the tech wizard. You just need to be the wizard's advisor. An effective Cyber Advisory Committee's role is not to code but to counsel, not to troubleshoot but to strategize, and not to implement but to oversee.
Start by assembling the right team for your Cyber Advisory Committee. Include tech experts, of course, but don't overlook the value of legal, financial, and strategic insight. Aim for a diverse blend of skills and backgrounds. Once the team is assembled, assign them the task of identifying your Cyber gaps. What are your vulnerabilities? How much would a breach cost? What's the recovery plan?
Now let's don the economic hat. A Cyber Advisory Committee should translate tech jargon into business language. It's not about explaining what DDoS or Zero-Day means. It's about quantifying the financial impact of these threats. It's about assessing the Cyber risk against the backdrop of your financial metrics. It's about integrating Cyber risk into your financial risk model.
To pull this off, the Advisory Committee should sit down with each board director and executive officer. They should understand each director's and officer's business perspective, their concerns, their objectives. They should tailor their advice to meet the unique needs and priorities of each stakeholder.
In the grand scheme of things, creating a Cyber Advisory Committee is about driving a culture of Cyber awareness throughout the company, right from the boardroom to the mailroom. It's about making Cyber a part of the corporate DNA.
So, if a Cyber Advisory Committee isn't yet on your corporate radar, it's high time you dialed it in. After all, in the digital age, a company that doesn't take Cyber seriously is like a ship sailing without a compass. It's not a matter of if it will hit an iceberg, but when.
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