Four Key Lessons From NACD's '2018 Governance Outlook' About Managing Cyber Risks
The National Association of Corporate Directors (NACD) recently published its "2018 Governance Outlook: Projections on Emerging Board Matters" report, highlighting key areas of focus for board members in the new year, reports Security Intelligence (Jan. 11, Weltsos). "The report -- and the underlying NACD Public Company Governance Survey -- found that only 49 percent of board directors are confident about management's ability to effectively handle cyber risks," notes the publication. Meanwhile, 58 percent said it was "important" or "very important" for their boards to improve oversight of risk management in 2018. The article's author details four takeaways for directors from the report. One, get engaged with strategy and risk oversight. Two, pay closer attention to cyber threats. Three, work to improve organizational culture. And, four, ask tough questions. "Boards should focus on what matters, and that includes organizational strategy and execution, the way risks are managed and keeping a close eye on cyber risks," Security Intelligence concludes.
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