Free Advanced Cyber Security Course

Cyber governance refers to the system using which an organization assesses and manages cyber threats, determines security strategies, and makes informed decisions using available resources. Think of it as a sub-function of organizational governance that relies heavily on a security governance framework and the availability of resources to mitigate cyber risks. Since every business process is unique, there is no one-size-fits-all framework for cyber governance. A typical framework in any organization includes 

• Review of potential risks

• Escalation/de-escalation of risks 

• Involvement of the Board in mitigating risk decisions 

• Ensuring that the framework works seamlessly 

• Structuring cyber security system

• Code of practices are implemented properly

Some of the key components of developing robust cyber security governance include : 

• Governance -Governance refers to the system by which an organization controls and manages IT security. Understanding how cyber security risks may impact your business goals and objectives establishes the roadmap to determining IT operations. This paves the way to designing a robust governance structure that helps in improving the overall cyber risk management strategy. Once an organization has a clear scope and appropriate resources, individuals or dedicated teams are assigned to take action and make informed decisions. Developing a strategic action plan, policies and establishing key performance indicators (KPIs) fall under governance. 

• Technology -Since business operations differ depending on the size, location, and scope of the business, so does the technological requirement to sustain business operations and growth.  The organization must ensure basic technological infrastructure that helps protect its assets to withstand cyber threats. To mitigate foreseeable cyber threats and ensure security, organizations may also allocate funds or resources to procure sufficient technological tools. This may include computers, networks, the cloud, and the physical environment for data protection. Depending on the technical aspects of cybersecurity, organizations may conduct routine network penetration tests and security assessments of physical components to deal with cyber risks.

• Operations - Operations refer to how an organization brings together governance and technology in action. Having a standardized process in place ensures the quality and consistency of the risk management approach. On the contrary, inconsistent and ineffective governance plans will eventually lead to pitfalls and security breaches. In the same manner, outdated technological tools will lead to compromises and cyber-attacks even if a robust governance plan is put in place. Therefore, an organization needs to enforce accountability and consistency in its operational process to meet compliance across all levels. For instance, if an organization possesses great technological tools for cyber risks detection but an inconsistent incident response plan, then it will still be at risk. Implementing risk and vulnerability management and awareness programs will help address existing and future risks within that organization.  

There are six core security governance principles. These include -

• The first principle is to establish information security governance as per the organization’s structure and objectives. The management should ensure that information security protocols should be well integrated with the latest information technology to establish accountability within the organization. 

• The second principle dictates adopting a strategic approach based on potential risks. Based on the risk appetite, the resources and budget should be allocated. This also prevents financial losses in the future and reduces liability risks. 

• As per the third principle, investments should be intended to fulfill a business or organizational objectives. The capital and expenditure should lead to regulatory compliance.  

• The fourth principle says that there should be conformity in the internal and external requirements. External requirements include legislation, certifications, etc., and internal requirements include risk management approaches based on organizational objectives.

• According to the fifth principle, fostering a positive environment and fulfilling stakeholders’ expectations is crucial. 

• From the governance perspective, it is important to review an organization’s security performance concerning business outcomes. Mandate reviews, monitoring, and audits help enhance business performance.