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Cyber Security
Managing Cyber Security, Risk and Compliance
In today's digital economy, more and more firms are falling victim to massive data breaches. Cyber security is not just a technical issue – it's a business, reputational, governance, and performance risk. An integrated GRC program will help identify and mitigate cyber security risks and help minimize IT compliance violations and avoid potential threats and vulnerabilities.
Simple human error or threatening behavior is more often the cause of cyber security incidents than malicious hacks. Building firewalls and implementing security software is not enough to minimize your firm's risk in today's environment. Employee cyber awareness and training are critical factors in preventing attacks.
The average cost of a data security breach today is nearly $4 million. Simultaneously, more than one in six employers worldwide suffered a cyber-attack in the past year. In North America, the rate is closer to one in five. Unfortunately, the most significant data security vulnerability within an organization is its own employees and vendors. Lack of cyber security policy awareness and training among employees significantly enhances the risk of system invasion and hackers' attack.
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What You Need
Training
Annual training that provides employees with a deeper level of understanding of data security and the cost of a data breach.
Policy
A cyber security policy and a way to manage and distribute the policy.
Awareness
An ongoing awareness effort to keep cyber security top of mind.
Understanding
An understanding of compliance and technology’s role in managing risks and ensuring compliance.
Strategy
A strategy to detect, evaluate and monitor cyber security threats and a plan to assist your organization during a cyber attack.
Steps You Can Take to Address Cyber Security Risks
STEP 1
Write a company cyber security policy and clearly communicate it to all employees. The policy sets the foundation to answer the question, “Why does cyber security matter?”
STEP 2
Obtain program endorsement from leadership and the C-suite to show employees that cyber security is critical to the company’s interests and to protecting its intellectual property.
STEP 3
Put an intake method, in place for employees to report cyber security incidents.
STEP 4
Train employees about their role in cyber security risks and threats to drive behavioral changes that can make your organization more cyber secure.