Cybersecurity is no longer an issue reserved strictly for CIOs and CISOs. Given the sea change in the landscape, CEOs and their boards must own it. The United States Securities and Exchange Commission (SEC) proposed new rules on cyber-risk management, strategy, governance, and incident disclosure as well as public disclosure of director experience in cybersecurity and risk oversight practices will go into effect shortly. A plethora of data indicates that most boards are not ready to meet these new standards.
New cyber reporting will require a deeper focus on material business, operational and financial impacts. With cybercrime damages expected to reach $8 trillion this year (Cybersecurity Ventures), boards will need to better address cyber investments and the risks of business interruption, remediation costs, lost revenue, litigation, the erosion of competitiveness, and long-term shareholder value.
Cyber risk reporting and business resilience planning must now become a key component of effective board governance. While it’s possible to add a cyber expert or technology expert to your board, having an independent voice now, providing on-demand support to expand your board’s cyber expertise is both smart and timely.
Our New Cyber Risk Practice Provides a Way to Effectively Expand Board Cybersecurity Expertise and Ownership
- Regulatory Oversight Support: We ensure understanding of expectations from the SEC and the investor community.
- In-Boardroom Support: We share with boards the latest cyber risk factors and provide management with insights regarding their responsibilities.
- Strategic Cyber Governance Analysis: We conduct an independent strategic evaluation of the boardroom construct, competency, and capabilities.
- Board Oversight Support: We provide a suite of experts to support the board in exercising their cyber risk oversight responsibilities.
- Pre-Board Report Materials Analysis: We review all materials prior to the board meeting. This would result in preparing the board for asking the proper questions of management in terms of business strategy, financial planning, and capital allocation.
- Post-Board Meeting Support: We provide an independent analysis of management’s materials and presentations provided to the board.
- Mentoring Your CISO: We provide one-on-one mentoring to improve strategic communication to the board of directors and throughout the company.
- Strategic Planning/Culture: We work directly with CEOs to set the direction of a shared vision, organizational mission, and core values, which serve as the standards for behaviors including proper cyber hygiene.
- Talent Acquisition Support: We are proficient at vetting the credentials of prospective board members. Our process and criteria ensure the right candidates are identified with the requisite cyber experience and global view of business, finance, operations, and governance.
Stuart Levine & Associates – Your Cyber Risk Leadership Team
Chris Hetner, Senior Consultant, Stuart Levine & Associates
- Senior Cybersecurity Advisor to the Chair, U.S. Securities and Exchange Commission
- Co-Chair, Nasdaq’s Cybersecurity & Privacy Council
- Director, TCIG
Stuart Levine, CEO & Chair, Stuart Levine & Associates
- Director, and Chair of Governance and Nominating Committee, Broadridge Financial Solutions (NYSE: BR)
- Lead Director, Gentiva Health Services (Nasdaq: GTIV), Chairman of Compensation, and Nominating and HR Committee
- Director, Northwell Health
- Forbes Contributor and Best-Selling Leadership Author, The Six Fundamentals of Success (Random House) and Cut to the Chase (Random House) and The Leader in You (Simon & Schuster) with over 1 Million copies sold in 40 languages
Christopher Clark, Senior Consultant, Stuart Levine & Associates
- Senior Director, the National Association of Corporate Directors
- Publisher, NACD Directorship
- Vice President, Forbes
To learn more, please contact:
Christopher Clark
Senior Consultant
Stuart Levine & Associates
T: 914-409-8900 E: cclark@stuartlevine.com
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