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Incorporate Cyber Risk Oversight Into Your Governance Process.

EXTEND Resources advises boards to help them improve their understanding of cyber risk management, facilitate effective oversight of risk assessment and mitigation tactics and costs, boost cyber resilience, and reduce the risk of regulatory penalties.

What Is Cyber Resilience?

Achieving 100% protection against security incidents and data breaches is impossible. Instead, boards and management teams must make their best effort to avoid attacks, be prepared to recover when an incident occurs, and continue operating with minimal disruption. Cyber resilience enables you to meet those goals using three strategies.

  • Cyber Defense and Protection
  • Business Recovery
  • Business Continuity

Cybersecurity requirements from the SEC and other agencies underscore the importance of advancing risk management and governance efforts across the boardroom community to ensure resources and investments are applied to cyber risks with the most material financial, business, and operational impact.

Why is cyber resilience now a core competency for boards?

You’re not a cybersecurity expert. Yet, as a member of the board, you are now accountable for understanding and overseeing the organization’s cybersecurity program. Moreover, you must do so while 1) ensuring that your organization is prepared to respond to a breach and 2) maintaining effective business operations.

Being confident that your organization is both protected and prepared requires expert knowledge and audited evidence of an effective cyber risk program.

“Too often, cybersecurity gets lost in translation when board members engage the C-suite. This leaves the board unsure of precisely what the organization is funding and where residual gaps remain.”

Chris Hetner

Chair of the Nasdaq Center for Board Excellence Insights Council and Principal, Board Advisory Solutions, EXTEND Resources

When exploring your organization’s cyber resilience, consider these questions we often discuss with clients:

  • Have we fully identified the organization’s cyber risks? How do we know?

  • Have we evaluated risks our vendors and third parties may introduce?

  • Are we confident we have taken appropriate steps to mitigate our risks?

  • Will our documentation pass an internal cybersecurity audit?

  • Will our security program meet clients’ contractual cybersecurity requirements?

  • Are we compliant with applicable SEC, state, and other security and privacy regulations?

  • When we experience a breach, are we confident in our ability to recover?

  • Should there be a cyber incident that is covered by cyber insurance, have we minimized the likelihood of a claims dispute?

In what specialty areas can EXTEND advise our board?

Understand your risk exposure and develop a strong GRC program that supports your organization’s ability to meet SEC Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure requirements. Reduce the risk of SEC penalties and fines by properly disclosing material cybersecurity incidents, reporting Risk Management, Strategy, and Governance information, and meeting structured data requirements.

Be aware of the latest amendment to the state’s cybersecurity regulation for banking, insurance, and financial services organizations. Recognize your potential exposure and mitigate risks by fostering compliance with an enhanced range of cybersecurity requirements, from expanded governance requirements for senior stakeholders and incident response and business continuity planning to incident notification and certification of compliance.

Cyber risk and cybersecurity maturity have become a key criterion for management teams who are evaluating organizations as merger and acquisition targets. They want to understand how cyber threats could affect the value of the opportunity, what it will take to reduce information security risks, and how to leverage that information in their deals. EXTEND can help you evaluate an organization’s cybersecurity posture in advance of a transaction.

Why choose EXTEND for cyber risk management advice?

Our team’s personal experience serving on boards, combined with our extensive knowledge of information security and data privacy, enables us to advise clients on better protecting against threats, recovering from incidents, and continuing to operate.

EXTEND brings cybersecurity expertise and an independent, unvarnished view of an organization’s security posture directly to your boardroom, enabling you to:

  • Understand your changing role and cybersecurity responsibilities,
  • Master cybersecurity fundamentals needed for oversight,
  • Set the tone for a culture of security & privacy,
  • Gain confidence in your organization’s security posture,
  • Be prepared for third-party audits,
  • Recognize the role cyber insurance plays in your organization’s risk mitigation strategy,
  • Evaluate the efficacy of your organization’s disaster recovery and business continuity plans, and
  • Accurately disclose material incidents in a timely manner.

EXTEND holds a comprehensive ISO 27001 certification for information security management. We are serious about security and operate accordingly. Learn more about our vCISO and information security capabilities.

cyber-incursion

Who is ultimately responsible for a cyber incursion?

IT and cybersecurity teams often take the fall when a data breach or security incident occurs. Yet, who is ultimately responsible when cyber criminals infiltrate an organization and access its data?

Learn the answer and explore important steps board members can take to protect their organizations and themselves.

Don’t let security incidents and penalties disrupt your board’s success.

Put yourself in the best position to fulfill your new cybersecurity responsibilities, provide effective guidance, and reduce legal exposure.
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