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Articles by Christopher Hetner
Talking Security Strategy: Cybersecurity Has a Seat at the Boardroom Table
Cybersecurity is no longer a fringe issue for businesses. What was once a siloed function, there out of necessity more than anything, is now woven into the fabric of any successful business. Any business still treating its cybersecurity initiatives as a side project is setting itself up to fail. The Security and Exchange Commission (SEC) has laid to rest any doubts about the importance of cybersecurity with new regulations around how boards of directors should approach it.
Dissecting Modern Cyber Security: A Q&A with Erez Liebermann
In response a surge in cyber crime and a shift toward digitization in financial services, regulators are now turning up the heat on buy-side institutions, forcing management teams reconsider their approach to cyber security. The SEC recently unveiled new cyber-risk governance guidance that will impact registered investment advisors, registered investment companies and funds. Consequently, these firms are likely to face more stringent requirements, particularly for cyber risk incident reporting.
The Path Toward Cyber Resiliency: A Q&A with CrowdStrike’s Shawn Henry
Global cybercrime damages are projected to reach $6 trillion this year, and nation-state adversaries are increasingly leveraging widely-used software suppliers to gain access to networks.
Systemic Cyber Risk Reduction: A Q&A with the Department of Homeland Security’s Bob Kolasky
Fueled in part by high-profile ransomware attacks that have resulted in major losses, cybersecurity is now a top priority at just about every type of business - including financial services firms. Indeed, as banks move more and more toward digitization, their potential exposure to cyberattacks will likely only increase.
Cyber Risk Economics: Building Exposure Into ERM
Mounting financial losses due to cyberattacks have business leaders scrambling for answers and cyber insurance carriers searching for cost-effective solutions. Damages from cybercrime are projected to reach $6 trillion in 2021, and rise all the way to an astounding $10.5 trillion (annually) by 2025. Christopher Hetner So, a key issue that financial institutions urgently need to address is the steps they can take to account for their economic and operational exposure to cyber risk.
Cyber Disclosures: New Regulation on the Horizon
Amid a global surge in cyberattacks, the U.S. Securities and Exchange Commission (SEC) is expected to soon release a rule proposal aimed at providing investors with increased cyber-risk transparency. Specifically, the SEC will likely outline requirements on how companies should address cyber incident risk management and incident disclosure.
Stemming the Tide: How to Identify and Mitigate Pandemic-Era Cyber Threats
COVID-19 has set structural and technological changes in motion, creating new cyber risk and security challenges that will likely endure even after the pandemic ends. There is no shortage of cyber-threat actors attempting to take advantage of this situation, and the majority of cyberattacks continue to be financially motivated. What's more, there is no end in sight, with damages from cybercrime projected to reach $6 trillion globally in 2021.
Cyber Volatility: How Regulators and Banks Are Responding to a Surge in Cybercrime
Every year, cybercrime becomes cheaper, easier, and faster, making a variety of companies – including banks – more vulnerable to attacks than ever before. Damages from cybercrime are projected to reach $6 trillion, annually, by 2021. In response, banks are spending hundreds of billions of dollars on cybersecurity, and regulators have, understandably, turned up the heat. In the U.S, federal regulators have significantly escalated penalties related to cybersecurity and data privacy.
Cyber Risk Trends in the Boardroom: A Q&A with Marija Kramer
Ramping up its focus on cybersecurity disclosures, the SEC recently upped the ante on financial institutions’ management of cyber risk. Following enforcement actions against eight financial services firms, the SEC’s underlying message to corporations has come across loud and clear: cybersecurity needs to be treated just as seriously as disclosures for other types of risks.
What You Need to Know About Cyber Insurance and Regulatory Change
As recent events have shown, the pace and scale of cyberattacks continue to grow, as do the financial stakes—revenue losses, recovery expenses, liability costs, and potentially severe regulatory fines are all consequences facing companies.
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