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What Is Cyber Security Governance?
Cyber governance encompasses all the methodologies and tools an organization uses to respond to its own cyber security risks- including policies and processes.
This dedication to secure operations involves several components:
- Conducting security risk assessments: What are new threats businesses face? Are there systematic weaknesses or blind spots in your intelligence?
- Working with external partners: What third-parties do you work with? Do they have access to your sensitive data?
- Educating staff: Your employees are usually a thin line of defense against cyber risks. Give them the right policies to follow, especially if they work remotely.
- Documentation and reporting: Keep records of your previous audits as proof of your adherence to cyber security governance practices.
You need cross-departmental collaboration in order to address all security risks proactively.
Data privacy and security risks require the right management protocols of employees, IT policies, and the use of technologies.
Cyber governance risk and compliance relies heavily on the quality of your internal controls. Instead of telling your stakeholders directly to adhere to cyber security regulations, you need to define exactly what steps to take so that your internal processes are compliant.
Controls are the specific policies and procedures your business must undergo. Which controls to use isn’t always clear at first glance, but determining which ones are most relevant will guide your business in putting into place the correct controls.
When working on cyber security risk governance, ask yourself the following questions:
- Are controls fully implemented for particularly risky business processes where data breaches and other incidents are most likely to happen?
- Do you have the right detailed documentation regarding your controls?
- Are your controls well thought-out to the point where external auditors will believe that you’re serious about cyber security?
- And who is responsible for conducting internal controls?
A controls-focused approach to data security governance also generates business value. Some of the benefits here include:
- Stronger understanding of internal operations: Compliance teams focusing on controls have a chance to understand how internal processes are impacting cyber risk governance.
- Getting prepared for audits: Whether it’s an audit from the government or by an independent third-party, having controls and analyzing them on a regular basis will ensure that you’re never caught off-guard.
- And generally better legal compliance: Data breaches have put companies and governments on edge. Getting all your departments to work together on instilling internal controls for cyber security is the best way to ensure compliance.
Once you have a streamlined set of controls that efficiently covers multiple aspects of cyber risk governance, you won’t have to spend as much time on these risks, and your employees and departments can focus their efforts on their main objectives.
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