Recorded: February 24, 2016
Length: 60 Minutes
Data breaches and other security incidents continue to accelerate and have now gained the attention of most boards of directors. This comes soon after the FFIEC's Cybersecurity Assessment where they evaluated more than 500 Community financial institutions to determine how prepared they are to mitigate cyber risks.
The findings reveal the need for engagement by the board of directors and senior management to not only understand the institution's cyber security inherent risk, but to routinely discuss cyber security issues in meetings, monitor sufficient awareness of threats and vulnerabilities, ensure a dynamic control environment, and oversee the institution's connections to third parties, as well as the institution's business continuity and disaster recovery plans that incorporate cyber incident scenarios.
Many directors have realized that cyber risk, formerly seen solely as the IT Director's problem, is now also their problem, and therefore their responsibility and fiduciary duty to oversee. However, many directors feel unprepared to address cyber threats citing that they lack necessary technical skills and don't understand cyber risk.
Join this webinar to learn about the board's role in understanding and monitoring cyber security risk, how ensuing lawsuits are challenging the board's role in data breaches, and what you can do about it.
Topics will include:
- Current security concerns and trends
- What examiners are looking for
- Best practices for risk management
- Monitoring compliance
- Liability considerations
Target Audience: Board of Directors, C-Suite, IT titles, Compliance titles
1 CPE Credit
Program Level: Basic-Intermediate
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