World has become digital. And so should us. But with this digitalization, new threats are coming to light. With the world turning digital, online threats have taken new heights. Cyber security is one of the major concern these days. Since, everything is becoming digital, we must take security seriously.
At a corporate firm, all the employees, starting from bottom to senior team, need to be responsible for cyber security. Data theft is one of the most concerning subject. Ransomware attack play a huge role in damaging any company’s reputation. They can release the important information. A company may end up losing its important data. Not only this, you may also have to face financial shut down. These dangerous viruses can enter into your system and capture confidential data. You, as a part of top management can help your company stay safe. The data security is everyone’s responsibility.
In today’s article we will explore how cyber security can be managed by top management. If you are also concerned about your company’s data and its reputation then stick with us as we guide you to become smarter while handling your digital platforms.
Cyber security: A real threat of digital age
Since digitalization has taken over the world, so has the digital threats. With one single breach of cyber virus your company may face various problems. Such as:
- Trouble in everyday operations
- Loss of company finances
- Damage to the company’s image
- Legal penalties
- Attack on customer data
- Risk to overall company data
Being a part of top management, it is important to minimize the risk of cyber security. Sometimes, having a good data protection may not be enough. A complicated coding and firewalls are not that difficult to break down. A simple mismanagement can damage and bring the company down. If your company has weak cyber governance then you are easily exposed to the cyber-attacks. Top managements become accountable and liable for these problems.
Cyber security: Governance & Compliance
A particular framework when you have very specific policies and roles destined regarding cyber-attacks makes a cyber security governance. Ensuring the cyber risks are managed carefully is essential. Monitoring these concerns at organizational level should be a first priority of every top management. However, both the governance and compliance are different from each other.
When we talk about governance, it is much more proactive than compliance. While governance follows strategies, compliance can be rule based or even mandatory. Many a time compliance is only because of legal requirements. Whereas, governance focuses on decision making. A good governance is done through good leadership. But that is not the case with compliance. It is driven by the regulators and gets little to no attention.
A good managing company would make sure that their team meets all the governance framework. It is not only a to do list to do. It is rather important for every firm to stay within the safe borders. A company must follow a solid GRC structure to ensure the safety of your company.
GRC aka Governance, Risk management and Compliance.
Strategic use of Governance and Compliance
If you are also willing to give your company a more secure environment then you should also implement governance and compliance strategically.
- Be clear with your objectives while using governance and compliance at work.
- You can assign ownership and roles to your team members. Everyone will be responsible for maintain the cyber security at work.
- Make policies that will create foundation for governance expectations. Having clear policies for risk protocols and compliance requirements will make your work easier.
- Start using the right tools that will support your governance and compliance needs. There are many platforms available in the market that will help you centralize the reporting and integrate with you existing systems.
Governance and Compliance tools: Online solutions for your cyber needs
There are multiple online tools available in the market that can help you improve your company’s cyber security. You can integrate them with your regular tools and get advanced security.
- AuditBoard- One of the most popular online tool. It is popular among the internal audit and compliance teams. It is easy to use and gives deep automation.
- Archer Insight- It provides you with an enterprise scale risk for easily modeling organizations. It provides deep visibility and less risk exposure.
- Drata- For compliance automation, Drata is a real time monitoring and integration tool. It easily automates tasks and gives controls check.
- LogicManager- It is a risk management solution. It helps organizations to improve their programs with a structured planning. It also supports internal audits and risk management.
- ZenGRC- It is a centralized platform which give audit readiness. With that you can also get control management. With UI and mapped framework, you work will become easier than ever.
Final thought
Maintaining your company’s reputation is necessary. It is not a one person’s job but a whole team work. Everyone is equally responsible for data security. All you need is to choose what is right for your company. Maintaining legal policies while the cyber security goes hand in hand. You need to assess the workflow and assess risk carefully. Maintaining audit readiness and building the right automation with online tools is essential. Governance and compliance should be a strategic part of top management. It helps you regulate your work and makes everyone accountable for their part in securing your online footprints.
You can establish a strong governance by ensuring the regulatory compliance. This will reduce cyber risk and help you with better decision making. It is not only essential for your company’s progress but also to maintain trust of customer and stakeholder.
FAQs
- Should I be concerned about cyber security?
If you also want to keep your company and its data safe then yes, you should. It is a huge concern especially in this digital world.
- Who should look after the security governance?
Everyone working in a team is equally responsible. Which means, every team member needs to look after the security governance.
- How to differentiate between governance and compliance?
Compliance is mandatory. It is focused on rules and legal regulatory. Whereas, governance is proactive and focused on risk management.
