8 Things Your Cyber Security Board Report Should Include

In today's digital age, cyber security is not just an IT issue but a strategic business imperative. A comprehensive board report on cyber security risk should provide a clear overview of the organisation's cyber risk outlook, business strategy alignment, and operational resilience.

Here are the key elements to include in your board report on cyber security risk:

1. Executive Summary: Begin with a high-level overview of the cyber security landscape and its impact on the organisation.
2. Cyber Risk Outlook: Detail the current risk exposure, including internal and third-party vulnerabilities, and the effectiveness of security controls in place.
3. Incident Report: Summarise significant cyber security incidents since the last report, their business impact, and the lessons learned.
4. Mitigation Strategies: Outline the initiatives prioritised to mitigate top cyber threats like ransomware and phishing attacks.
5. Compliance and Regulatory Update: Provide updates on adherence to relevant cyber security laws and regulations.
6. Investment in Cyber Security: Discuss the financial investment in cyber security measures and the ROI in terms of risk mitigation.
7. Future Outlook: Offer insights into future cyber security challenges and how the organisation plans to address them.
8. Recommendations: Conclude with actionable recommendations for the board to consider.

Remember, the goal is to inform and engage board members, many of whom may not have a technical background, so clarity, simplicity, and conciseness are key. Please avoid using guesswork and risk levels presented in green/yellow/red or H/M/L.

Does your cyber security board report cover all the critical elements?

Heard about the FAIR methodology?

Factor Analysis of Information Risk (FAIR?) is an international standard that provides a quantitative model for information security and operational risk. FAIR is an analytical risk model that complements organisations' existing frameworks. By applying it, you make measuring the efficiency and value of controls easier and much more reliable.

Would you like to know more about the FAIR methodology and how to start working risk-based in your organisation? Please reach out to Arash Nicksan at Nexer Cybersecurity. We have the expertise, capabilities, and tools to support you.

About Nexer Cybersecurity

At Nexer Cybersecurity, we have extensive experience driving change in the cyber security space, identifying high risks, and implementing new ways of working to help organizations stay secure over time. We enable our clients to make informed decisions with clear, measurable results that are relevant to their business. One of our areas of expertise is measuring and visualizing your cyber security risk, empowering data to fuel your digital transformation and making it business-relevant, rather than just producing reports.

Curious to know more? ?Learn more here.