Building a Proactive Oversight Framework for Senior Management
In the digital age, where Cyber threats are intensifying, boards of directors and senior managers cannot afford to be left out of the picture. The responsibility for management Cyber risks and information security It is an integral part of good corporate governance, when Regulators, investors and shareholders expect For a high level of control and reporting.
📌 Is your board receiving an accurate picture of your organization’s cybersecurity posture??
Why Must the Board Be Involved in Cyber Risk Management??
🔹 Legal and regulatory responsibility is expanding – Regulations such as GDPR, SOC2, ISO 27001 and privacy protection laws in Israel Requires ongoing monitoring and control of cyber risks.
🔹 Direct impact on the stability of the organization Serious cyber incidents May lead to business downtime, reputational damage, and significant financial losses.
🔹 Investor and shareholder requirements – A board of directors that is considered responsible and aware Increases investor confidence and reduces investment risk.
🔹 Improving response readiness – A board of directors that understands Real-time security status Can respond quickly and prevent long-term damage.
📌 A worrying statistic: A global report indicates that70% of companies do not provide the board of directors with comprehensive information about cyber risks, which could lead to a lack of preparedness in the event of an attack.
How to build an effective reporting and control system for the board of directors?
- Determining cyber metrics (Cyber KPIs) For ongoing monitoring
📊 For a board of directors to make informed decisions, they must rely on measurable and clear data..
📌 What to include in cyber reports?
✅ Number of foiled attack attempts – To understand the scope of threats to the organization.
✅ Response time to critical threats (MTTR – Mean Time to Respond) – A key indicator of the effectiveness of the security system.
✅ Level of regulatory compliance – Does the company comply with all legal requirements and standards?
✅ Active security gaps and steps taken – What are the critical weaknesses in the organization and how are they addressed?
📌 Desired result: A board of directors that receives relevant information in real time, not just in periodic reports that lose their relevance.
- Building an effective reporting mechanism for management
📢 How to effectively communicate the cyber situation to the board?
📌 What to do?
✅ Short and focused periodic reports – Clear and understandable data must be transmitted, without overly technical "cyber language."
✅ Quarterly presentation to the board of directors – including Security status summary, risk assessment, and improvement action plans.
✅ Using a risk map and visual graphs – To illustrate weaknesses and manage priorities.
✅ Establishing an internal cyber committee – Be responsible for managing security discussions and report directly to the board of directors.
📌 Desired result: Management that understands the business significance of information security and can make quick and effective decisions.
- Integrating information security into the business decision-making process
💼 Information security is no longer an “operational” issue – it is a critical part of an organization’s business strategy..
📌 How to embed cybersecurity into business planning??
✅ Examining cyber risks in every new business project – Including mergers, acquisitions and new product launches.
✅ Board of Directors involvement in budgetary decisions on the subject IT and security – Ensure that the investment provides a real response to threats.
✅ Positioning cybersecurity as a fundamental pillar in business growth and innovation strategies..
📌 Desired result: Every business decision is made with a clear understanding of its impact on security and business continuity..
- Cybersecurity Drills and Incident Response Readiness for the Board
⚠️ When a cyberattack occurs, an unprepared board can cause dangerous delays in crisis management..
📌 What to do?
✅ Periodic cyber drills for management – Simulations of ransomware attacks, system hacking, and information theft.
✅ Setting a clear emergency procedure – In the event of an information leak or serious attack.
✅ Establishing a dedicated response team – With a clear division of roles between senior management, IT teams, and legal and regulatory teams.
📌 Desired result: A leadership team that is not caught off guard but knows exactly how to respond in a cybersecurity crisis..
Conclusion – How Should the Board Structure Continuous Cybersecurity Oversight?
✅ Cyber risk management is a board-level responsibility, not just an IT concern..
📌 The Three Critical Steps Every Board Must Implement Now:
1️⃣ Obtaining clear and measurable cyber data – Presenting performance indicators that will allow management to monitor the company's level of protection.
2️⃣ Integrating information security into business decisions – Ensure that every strategic process includes an examination of security risks.
3️⃣ Emergency preparedness and cyber drills for management – Practice responding to cyber incidents as part of ongoing risk management.
📌 The goal: A proactive board that is equipped to oversee, prepare for, and respond to any cybersecurity scenario..
🚀 A well-governed organization is one that provides confidence to investors, customers, and employees alike..
About the Author
Idan Sabri He is a leading expert In the strategy IT and information security, with extensive experience in supporting senior management and boards of directors in managing cyber risks. Idan helps organizations Integrate information security management as an integral part of the business strategy, and build a control system that ensures readiness for any scenario.