Translating Cyber-risks into Business Terms

Note

An interview with Melissa Hathaway formed the basis for this chapter.

"I have a hypothesis," says Melissa Hathaway, private sector cybersecurity expert and former cybersecurity "czar" under Presidents George W. Bush and Barack Obama: "Until cybersecurity is reflected in balance sheet terms, it's never going to be fully embraced by the board."

The key to a board's successful oversight of cybersecurity, observes Hathaway, is identifying it as risk, albeit in a new guise, and managing it with the same diligence and processes applied to other risks. That will help to ensure cybersecurity remains visible on directors' dashboards and that key metrics will be used to measure how well the job is being done....

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