Boyden: Cybersecurity & Risk Management

As technology has evolved and grown increasingly powerful, cyberattacks from malicious individuals and organizations have escalated, both in frequency and magnitude. Thus cybersecurity has become a hot topic for discussion over the past few years among governments, regulators and organizations. Cyber threats are now an undeniable reality, and attacks can originate from virtually anywhere. Businesses, especially, are seeing increasing threats to their systems and looking for ways to protect their data and the data of their customers.

Nearly seven in 10 say that their board of directors desires increased involvement from senior executives in risk oversight. However, only one-third have a dedicated Chief Risk Officer (or equivalent), and just 45% have a risk committee at the management/executive level.

In this landscape, there has been a rise in CISO and CSO hiring within the executive suite, and there are no signs of a slowdown anytime soon. Companies recognize that cybersecurity is not simply a function of the IT department, but rather an area that warrants focus in and of itself. To effectively build robust network security programs or enhance preexisting ones in a risk-fraught world, companies across all industries are targeting leaders that can adapt at a moment’s notice.

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