TL;DR
- Only 12% of the US Fortune 500 companies have board members with cybersecurity expertise, a statistic indicative of the significant gap across the broader market.
- Due to technical complexities and niche terminologies, high-level stakeholders and budget-makers perceive proactive cyber risk management to be a resource drain rather than a business enabler.
- At the same time, as the average cost of a cyber event rises, boards are increasingly seeking to engage with their chief information security officers (CISOs) and require updates on the organization’s cyber risk.
- To effectively communicate this risk landscape and help transform board members’ common misconceptions, CISOs need to invest in their storytelling skills and leverage various tactics to make cyber concepts and metrics more tangible.
- CISOs can likewise harness the power of cyber risk quantification (CRQ), which can quickly translate cyber risk into broader business terms, such as financial implications, helping non-technical stakeholders understand the benefits of practice investment.
- Investing in regular one-on-one meetings with other C-suite colleagues can likewise improve communications strategies,…
