Converge or Collide? Time for Legal and Compliance Staff to Tune in to Cyber Risk Management
Cyber risk is serious business, with broad implications for the health and viability of any enterprise. As the steady stream of high-profile data heists we’ve seen over the last several years demonstrate (the recent Target breach is only one example among many), we can no longer regard cyber risk management as the exclusive responsibility of the CIO or CISO. Corporate General Counsel, Chief Compliance Officers (CCOs) and other C-level executives should all be sensitive to the near- and long-term consequences of any data security incident, regardless of its technical origins, the perpetrators or the motivations behind it. Further, each stakeholder should recognize their respective role in managing cyber risks.