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What’s Driving Boards of Directors to Make Cyber Security a Top Priority?
In 2016, Bay Dynamics and the third party research firm, Osterman Research, produced two reports highlighting the challenges and progress between security executives and boards of directors as they increasingly work together to reduce cyber risk. The reports revealed that while communicating about cyber risk is a challenge, the issue has hit the top of the boardroom priority list surpassing other operational risks. This new report - What’s Driving Boards of Directors to Make Cyber Security a Top Priority? - is the third chapter in our series. Some of the key findings include:
- The proportion of board members who consider cyber risk to be a “high” priority issue has grown from seven percent in 2014 to 30 percent today and expected 44 percent by 2018.
- The number one driver of board members making cyber security a top priority is complying with regulatory requirements.
- Three out of five board members believe that one or more of their fellow board members should be a CISO or some other type of cyber security expert.