Information security program report to board

Although the regulations don't specify what the annual report must contain, the report should logically address security-specific concerns and common issues reported upon by managers of other business units, including:.

Make certain that a copy of your report is furnished to each Board member before your presentation meeting. Use the presentation meeting to:. After you have made your report, request that your presentation be reflected in the Board?

If the Board declines one of your requests, restate your request in phases. Also ask that any stated opposition to or denial of your requests is reflected in the Board? Summary Your security review becomes one of your most valuable loss prevention tools and developing it causes the Security Officer to focus upon real -- and potential -- liabilities. Writing the Annual Security Program report causes the Security Officer to justify and explain comments and recommendations.

Delivering the report to the institution's Board of Directors educates the Board members about security issues. The Security Officer always serves at the request of the institution? The Security Officer is obligated to furnish the Board with sufficient information to allow it to make intelligent and informed decisions about the initial and continuing development and implementation of the institution's Security Program.

The Board has a limited obligation to comply with the Security Officer? Member information includes any record containing nonpublic personal information about a member, whether in paper, electronic, or other form, maintained by or on behalf of the credit union.

Appendix A provides guidance for developing and implementing administrative, technical, and physical safeguards to protect the security, confidentiality, and integrity of member information. Appendix B describes incident response programs, including member notification procedures, that a federally insured credit union should develop and implement to address unauthorized access to or use of member information that could result in substantial harm or inconvenience to a member.

Additionally, the board may assign specific implementation responsibilities to a committee or individual. While every department is not required to implement a uniform set of policies, the credit union should coordinate all elements of the information security program throughout the institution.

Credit union management or other appropriate staff members should report to the board or a designated committee of the board at least annually. Security ratings platforms enhance their ability to gain insight into how well they compare with their peers which impacts their annual financial planning.

Security ratings platforms collect publicly available information which means that you can use the ratings to share your performance in a business-level language. If your security rating is lower than that of a peer, you can drill down into the risk factors associated with the ratings - both your own and those of your competitors.

If one risk factor is causing the difference, then you can more easily report to your Board about how to improve the score and the budget they need to allocate to meet the market-level standard. On the positive side, if your security ratings are stronger than peers, you can explain to your Board that you manage cybersecurity risks more effectively than your competitors do.

Additionally, you can use these scores as metrics to prove your ability to maintain effective information security controls as the Board looks toward new business objectives such as cloud migration. SecurityScorecard provides easy-to-read A-F ratings across ten groups of risk factors including DNS health, IP reputation, web application security, network security, leaked credentials, hacker chatter, endpoint security, and patching cadence. For CISOs trying to provide effective reports to their Boards of Directors, we bridge the gap between technical information and business-level needs.

Instead of giving long explanations with technical details, you can provide at-a-glance visibility into your continuous cybersecurity monitoring.

Consistent ratings across all factors and a brief explanation of how those translate to business imperatives, such as financial or reputation risk, can give your Board the information necessary to make strategic decisions. The platform incorporates portfolio creation so that you can review vendor risk by an individual vendor, cohort, or industry.

These capabilities alert you to potential risks so that you can communicate them effectively to your Board, aligning a low-score with a high risk. For example, organizations with a D or F rating are considered five times more likely to experience a data breach.

Thus, you can give your Board better risk management data and explanations by incorporating that into your discussions. Skip to main content Search Search securityscorecard. Making the world a safer place, together. Join the millions of organizations who are transforming the way they navigate risk.

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