6 Reason’s CFO’s need to be involved in Cyber Security

6 Reason’s CFO’s need to be involved in Cyber Security

  1. Security threats will continue to be a major business disrupter
  2. Despite years of effort and billions in spending each year, companies are still not adequately protected against cyberattacks.
  3. Board of Directors are holding CFO”s responsible for the financial impact of cyber threats
  4. CFO’s are greatly impacted by loss of funds through theft or a hit to the company’s reputation
  5. CFO’s advise their organization’s CEO regarding how to financially justify any changes to their way of doing business.
  6. 74% of CFOs say cyber security is a top priority

As a company’s financial leader, CFO’s should be asking these questions:

  1. How confident are you in the security of your data, intellectual property, applications, footprint, end-points, etc.?
  2. How confident are you in preventing rogue access points into your secure infrastructure?
  3. Are your efforts in preventing cyber security hacks not enough?
  4. What is your organization’s appetite for risk?
  5. Do you know how to calculate your organization’s Risk vs Reward profile?
  6. If a cyber attack is successful, what is the potential damage to your organization’s brand?

 If you:

  1. Are not asking these questions.
  2. Are currently searching to buy cyber security liability insurance.
  3. Are not satisfied with your current cyber security hack re-imbursement history of your current cyber security liability insurance program.
  4. Want another opinion.
  5. Are interested in further discussion and investigation into this area of concern.

You may also take a brief IT / Security Survey to provide us additional information to help you become more confident in your security approach.

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