Corporate Governance: Critical Analysis of Security System and Integration of Cyber Security and Resilience Protocol

Running head: CORPORATE GOVERNANCE
Corporate Governance
Name of the Student
Name of the University
Author Note

1CORPORATE GOVERNANCE
Table of Contents
Introduction......................................................................................................................................3
Brief Summary of the Case Study...............................................................................................3
Critical Analysis of the security system existing in the company...............................................4
Justification for the integration of cyber security and resilience protocol in the company.........6
Best practices for initiating the resilience policy.........................................................................7
Recommendation.............................................................................................................................9
Conclusion.......................................................................................................................................9
References......................................................................................................................................11

2CORPORATE GOVERNANCE
Introduction
In most of the organizations today, especially the ones that follow the Information and
Communication Technology or ICT based environment for their business organization, it
becomes a pretty difficult task to handle the critical challenges that are there in the Cyber Risk
Management and Resilience. In these kinds of organization, there is constant risk about the
security of data and thus becomes an even bigger challenge to implement a risk assessment and
management procedure to handle all the risks that the company faces from the cyber world
(Tricker and Tricker 2015). A company listed on the Australian Stock Exchange would be at a
higher risk, since the company deals with all the financial information about the customers of the
organization. Any security breach and compromise of data would not just be harmful for the
business organization but would also be perilous for the customers of the organization since this
would mean handing over random financial information to the malicious attackers over cyber
world. Thus, the following report would be based on the security system of a company listed on
the Australian Stock Exchange and its critical analysis on the basis of the best practices for
initiating a resilience policy in the organization as a positive change.
Brief Summary of the Case Study
The organization as mentioned in the case study is as listed in the Australian Stock
Exchange. Therefore, this means that the organization handles a lot of personal details of their
clients other than the data related to the business. For example, if it is assumed that the
organization belongs to a real estate business, it would have all the personal details of a client,
including their contact information and financial data (Duncan, Zhao and Whittington 2017).

3CORPORATE GOVERNANCE
Thus, there has to be a strict security policy and system maintained in the organization that
would imply upon the organization’s business process and operations management. As a
consultant for the business organization it is the duty of the consultant to check for the security
systems and policies that are applicable in the organization.
Thus, it can be stated that the organization works on an existing security system that runs
within the organization to protect the integrity of the employee data and the client data as well. It
is required for the consultant in the organization to produce a clear critical analysis of the
security system and provide new cyber resilience for the company’s well being and which
compensates the company’s appetite as well (Tagarev, Sharkov and Stoianov 2017). This is
because; with the emerging technologies and advancement of the technological era, there is also
ways by which the malicious attackers can defy the existing security systems and carry on with
their malicious works even with the ways to stop them. Thus, there would be a cyber resilience
proposition advised by the consultant for the sake of enhancing the security system of the
organization.
Critical Analysis of the security system existing in the company
The organization in the case study is included in the Australian stock exchange top 200
companies. Therefore it is quite justify that it goes to such a system that provides security to the
company regarding the employee and customer data (Trim and Lee 2016). However it is not to
be neglected as a matter of fact that Bose and managers of Enfield to acknowledge an impending
the risk that may have been preventable but somewhat due to poor handling of the security
system it may result into something bigger. For example we have seen that the breach of
customer data that occurred in Equifax had the company at a loss of almost 1.5 billion USD