Board Responsibilities For Cybersecurity

Events have moved swiftly in the past few years, with the Target attack of late 2013 a key turning point. Board governance has become an area of focus in shareholder lawsuits, and disclosure obligations have made their way to the board level. It’s now clear that cyber risk has taken its place next to credit risk, liquidity risk, and operational risk as a threat to a company’s health, and boards are being held accountable. Robert Kurtz from the Berkeley Research Group discusses the new board cybersecurity responsibilities, and what kinds of structures and procedures can be put in place to carry them out.