Best Practices for Cyber Resilience in Corporate Governance

Corporate Governance 1
CORPORATE GOVERNANCE
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Corporate Governance 2
EXECUTIVE SUMMARY
Cybersecurity and cyber resilience are serious challenges for many organizations
currently. Corporate governance consultants increasingly recognize that the philosophical
reputation as well as the existential nature of these perils means that the responsibility of
controlling the cybercrimes relies on the board and the top managing business directors.
Several organizations, however, do not feel that they are well prepared with adequate tools to
enable them to accomplish the cyber risks effectively. Because of the cyber risks like cyber
security and cyber resilience, almost every organization has become a steward of information
which they have control over and every organization contributes to the cyber resilience of not
only the immediate clients but also suppliers and partners. This paper will address the providing
examples of best practice and a clear set of recommendations on how the company should
initiate a cyber resilience policy at the corporate board level.

Corporate Governance 3
Table of Contents
EXECUTIVE SUMMARY.......................................................................................................................2
INTRODUCTION.....................................................................................................................................4
DEFINITION.............................................................................................................................................5
EXAMPLES...............................................................................................................................................6
i. Keeping the systems up-to-date......................................................................................................6
ii. Back up the data..............................................................................................................................6
iii. Educate and train............................................................................................................................7
iv. Get regular risk assessments...........................................................................................................7
v. Establish a strong password............................................................................................................7
vi. Put up a strong firewall....................................................................................................................8
vii. Installing the antivirus.................................................................................................................8
viii. Secure the organization laptops..................................................................................................8
ix. Encrypt data....................................................................................................................................9
RECOMMENDATIONS..........................................................................................................................9
i. Double down or triple down on the basics.......................................................................................9
ii. Focus on people and culture..........................................................................................................10
iii. Establish a cybersecurity risk policy with clear risk appetite..........................................................10
iv. Ask for an effective risk report with qualitative evaluation and quantitative................................10

Corporate Governance 4
v. Give a credible challenge and oversight of the cybersecurity program..........................................10
CONCLUSION........................................................................................................................................11
BIBLIOGRAPHY...................................................................................................................................12