Security Magazine logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Security Magazine logo
  • NEWS
    • Security Newswire
    • Technologies & Solutions
  • MANAGEMENT
    • Leadership Management
    • Enterprise Services
    • Security Education & Training
    • Logical Security
    • Security & Business Resilience
    • Profiles in Excellence
  • PHYSICAL
    • Access Management
    • Fire & Life Safety
    • Identity Management
    • Physical Security
    • Video Surveillance
    • Case Studies (Physical)
  • CYBER
    • Cybersecurity News
    • More
  • BLOG
  • COLUMNS
    • Cyber Tactics
    • Leadership & Management
    • Security Talk
    • Career Intelligence
    • Leader to Leader
    • Cybersecurity Education & Training
  • EXCLUSIVES
    • Annual Guarding Report
    • Most Influential People in Security
    • The Security Benchmark Report
    • The Security Leadership Issue
    • Top Guard and Security Officer Companies
    • Top Cybersecurity Leaders
    • Women in Security
  • SECTORS
    • Arenas / Stadiums / Leagues / Entertainment
    • Banking/Finance/Insurance
    • Construction, Real Estate, Property Management
    • Education: K-12
    • Education: University
    • Government: Federal, State and Local
    • Hospitality & Casinos
    • Hospitals & Medical Centers
    • Infrastructure:Electric,Gas & Water
    • Ports: Sea, Land, & Air
    • Retail/Restaurants/Convenience
    • Transportation/Logistics/Supply Chain/Distribution/ Warehousing
  • EVENTS
    • Industry Events
    • Webinars
    • Solutions by Sector
    • Security 500 Conference
  • MEDIA
    • Videos
      • Cybersecurity & Geopolitical Discussion
      • Ask Me Anything (AMA) Series
    • Podcasts
    • Polls
    • Photo Galleries
  • MORE
    • Call for Entries
    • Classifieds & Job Listings
    • Continuing Education
    • Newsletter
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • This Month's Content
    • Advertise
  • SIGN UP!
Security Leadership and ManagementCybersecurity News

Why and How Cybersecurity is Your Board's Business Too

4 Ways to Communicate Security's Value to Your C-Suite

By Guy Caspi
board of directors, cybersecurity, security leadership
August 8, 2016

Cybersecurity and data breaches have become top concerns for companies. As a result, there’s a big demand for adopting new cyber defense technologies, but lack of knowledge around choosing the most suitable solutions. Generally, CSOs and CISOs are charged with protecting the organization, but with today’s constant cybersecurity developments, it’s time for the entire organization to get involved. As trustees of the organization’s value and growth, it’s critical for boards of directors to start weighing in on cybersecurity activities similarly to their oversight of the financial ones.

There are many reasons why cybersecurity goes beyond the organization’s daily operational activities and is imperative for board oversight:

1.       Financial implications.

  • Costs. Cybersecurity incidents cause substantial expenses and losses, including data breach notification expenses, forensic and regulatory investigations, regulatory fines, attorneys and consultants, and remedial measures.
  • Credit rating. Failing to employ proper security measures may adversely impact the organization’s credit rating
  • Stock value, liquidity and operational risks. After a breach, a company’s stock price is very likely to drop, substantially contributing to financial losses.

2.       Operational disruption. DDOS attacks can shut down departments or servers, and APT attacks and massive data breaches can cripple operations and profits entirely.

3.       Brand perception/reputation. Even the smallest security incident can negatively affect a company’s ability to compete effectively and harm customer and shareholder confidence.

4.       Legal liability. Companies might face lawsuits from customers and shareholders for failing to comply with regulatory data safety and privacy requirements.

5.       Regulatory compliance. The board must be informed about new legislation to oversee compliance with cybersecurity policies for protecting consumers’ sensitive personal information, as well as data security and usage.

6.       Policies that go beyond IT. Corporate policies, such as “Bring Your Own Device” (BYOD), affect the degree of security to the organization’s sensitive information, for example, a device that has access to the organization’s network gets stolen or hacked due to a malicious app on the employee’s personal device.

 

Since cybersecurity measures aren’t one-size-fits-all, cyber risk management must be assessed based on a company’s specific industry and internal processes. Many directors feel unprepared to address cyber threats because they lack the necessary technical skills to fully understand the risks. Below are tips on how to address cybersecurity with your board:

1.       Speak the Board’s Language: Use language focusing on organizational growth, operations and value. This enables the directors to evaluate the overall cybersecurity risks and management activities, as well as decide upon an agreed level of risk, especially in the event of post-breach liabilities deriving from regulators, the media, and even potential plaintiffs.

  • Tie in the risks to the organization’s business and financial bottom line (e.g. purchasing a cybersecurity solution that costs X could decrease the risk of a breach by Y, or purchasing insurance that costs A could offset liabilities that cost B).
  • Provide information that ties into the overall responsibilities of the board, such as: strategic planning, increased profitability, corporate governance, etc.
  • Present the effect of cybersecurity measures on the organization’s competitiveness regarding expanding into new markets or utilizing innovative technologies.
  • Convey the financial, personal, legal, insurance and regulatory cybersecurity risks and the costs of minimizing them, ranging from regulatory requirements to employee education.

2.       To facilitate the conversation and evaluate current cybersecurity measures, provide the following information:

  • The organization’s most valuable data assets that require the most protection.
  • The most realistic threats to these data assets and who has access to this data.
  • How these valuable data assets are protected (e.g. encryption) and the relevant attack vectors and cyber threats.
  • The security measures the organization currently has in place to protect endpoints, mobile devices and servers. What’s lacking?
  • How a breach would be detected and remedied and how long it would take. Does the organization conduct penetration testing?
  • The specific roles and responsibilities in the organization’s incident response plan and internal/external disclosure and notification procedures.
  • What security measures and incident response plans do other companies in the industry have?
  • Is the legal department up-to-date on legal and regulatory requirements?
  • How often are employee cyber-education activities conducted, updated and evaluated?
  • Is the organization spending appropriately according to its security priorities?
  • Is the organization’s cybersecurity strategy aligned with its business objectives?

It’s essential that boards understand the organization’s cyber risks in order to successfully oversee overall company performance. CISOs and CSOs who can clearly convey cybersecurity to the board promotes better navigation of the organization in today’s uncertain cybersecurity world.

KEYWORDS: board of directors security cyber risk mitigation cybersecurity costs security business strategy security metrics

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Guy Caspi is the Co-Founder and CEO of Deep Instinct. Caspi is a leading mathematician and a data scientist global expert. He has 15 years of extensive experience in applying mathematics and machine learning in a technology elite unit of the Israel Defense Forces (IDF), financial institutions and intelligence organizations around the world. With a B.Sc., M.Sc., and MBA degrees in Mathematics, Machine Learning and Business, Caspi brings substantial management background in leading innovating technological challenges from R&D through commercialization. 

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • Security's Top Cybersecurity Leaders 2024

    Security's Top Cybersecurity Leaders 2024

    Security magazine's Top Cybersecurity Leaders 2024 award...
    Cybersecurity
    By: Security Staff
  • cyber brain

    The intersection of cybersecurity and artificial intelligence

    Artificial intelligence (AI) is a valuable cybersecurity...
    Cybersecurity
    By: Pam Nigro
  • artificial intelligence AI graphic

    Assessing the pros and cons of AI for cybersecurity

    Artificial intelligence (AI) has significant implications...
    New Security Technology
    By: Charles Denyer
Subscribe For Free!
  • Security eNewsletter & Other eNews Alerts
  • eMagazine Subscriptions
  • Manage My Preferences
  • Online Registration
  • Mobile App
  • Subscription Customer Service

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Security audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Security or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Crisis Response Team
    Sponsored byEverbridge

    Automate or Fall Behind – Crisis Response at the Speed of Risk

  • Perimeter security
    Sponsored byAMAROK

    Why Property Security is the New Competitive Advantage

  • Duty of Care
    Sponsored byAMAROK

    Integrating Technology and Physical Security to Advance Duty of Care

Popular Stories

Pills spilled

More than 20,000 sensitive medical records exposed

Laptop in darkness

Verizon 2025 Data Breach Investigations Report shows rise in cyberattacks

Coding on screen

Research reveals mass scanning and exploitation campaigns

White post office truck

Department of Labor Sues USPS Over Texas Whistleblower Termination

Computer with binary code hovering nearby

Cyberattacks Targeting US Increased by 136%

2025 Security Benchmark banner

Events

May 22, 2025

Proactive Crisis Communication

Crisis doesn't wait for the right time - it strikes when least expected. Is your team prepared to communicate clearly and effectively when it matters most?

September 29, 2025

Global Security Exchange (GSX)

 

View All Submit An Event

Products

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

See More Products

Related Articles

  • SEC1019-career-Feat-slide1_900px

    As Cyber Attacks Become More Prevalent, Here’s Why Your Small Business is at Risk

    See More
  • Cyber Tactics

    Why Cybersecurity is a Business Necessity

    See More
  • business-risk-management.jpg

    Why cyber risk assessments should be a part of your business strategy

    See More
×

Sign-up to receive top management & result-driven techniques in the industry.

Join over 20,000+ industry leaders who receive our premium content.

SIGN UP TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing