Boards have a fiduciary responsibility in their governance capacity to set the tone with their vigilance and demonstrate the criticality of cybersecurity risk management.
The Securities and Exchange Commission (SEC) has proposed changes to standardize public companies’ disclosures regarding cybersecurity risk management, strategy, governance and incident reporting.
It’s time to re-evaluate the modern data stack to relieve friction points and ensure both accessibility and compliance. By automating security workflows and controls across data stores and integrating into self-service access, productivity and innovation will thrive.
As a more encompassing and modern approach that extends not only governance, risk and compliance capabilities but also Integrated Risk Management and Enterprise Risk Management, digital risk management provides new tools and techniques risk professionals can interweave into operations and technology with unprecedented detail to strengthening the enterprise.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) issued an interagency paper titled “Sound Practices to Strengthen Operational Resilience.” The sound practices paper generally describes standards for operational resilience set forth in the agencies’ existing rules and guidance for domestic banking organizations that have average total consolidated assets greater than or equal to (1) $250 billion or (2) $100 billion and have $75 billion or more in average cross-jurisdictional activity, average weighted short-term wholesale funding, average nonbank assets, or average off-balance-sheet exposure.
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