Glossary

Cyber Governance

As business operations become more digitized and cloud-based, the need to address cyber security and data privacy risks is more urgent than ever. Today’s successful companies know how to take control of their own IT security governance.

Cyber Governance

What Is Cyber Security Governance?

Cyber governance encompasses all the methodologies and tools an organization uses to respond to its own cyber security risks- including policies and processes. 

This dedication to secure operations involves several components:

  • Conducting security risk assessments: What are the new threats facing businesses like yours? Are there any systematic weaknesses or blind spots in your intelligence?
  • Working with external partners: What third-parties do you work with? Do they have access to your sensitive data or systems?
  • Educating staff: Your employees are usually a thin line of defense against cyber risks. Make sure they understand how to respond to data security risks and give them the right policies to follow, especially if they work remotely.
  • Documentation and reporting: Keep records of your previous audits as proof of your adherence to cyber security governance practices. This way, you can show that you’re compliant with digital security laws and that you’re a trustworthy company.

The responsibility of cyber governance comes down to the Chief Information Security Officer, but any stakeholders throughout the organization are ultimately part of the task force as well. You need cross-departmental collaboration in order to address all security risks proactively.

Data privacy and security risks require the right management protocols of employees, IT policies, and the use of technologies.

Start Getting Value With
Centraleyes for Free

See for yourself how the Centraleyes platform exceeds anything an old GRC
system does and eliminates the need for manual processes and spreadsheets
to give you immediate value and run a full risk assessment in less than 30 days

Why Internal Controls Matter in Cybersecurity Enterprise Risk Management

Cyber governance risk and compliance relies heavily on the quality of your internal controls. Instead of telling your stakeholders directly to adhere to cyber security regulations, you need to define exactly what steps to take so that your internal processes are compliant.

Controls are the specific policies and procedures your business must undergo. Which controls to use isn’t always clear at first glance, but determining which ones are most relevant will guide your business to putting into place the correct controls.

When working on cyber security risk governance, ask yourself the following questions:

  • Are controls fully implemented for particularly risky business processes where data breaches and other incidents are most likely to happen?
  • Do you have the right detailed documentation regarding your controls?
  • Are your controls well thought-out to the point where external auditors will believe that you’re serious about cyber security?
  • Who is responsible for conducting internal controls?

A controls-focused approach to data security governance also generates business value. Some of the benefits here include:

  • Stronger understanding of internal operations: Compliance teams focusing on controls have a chance to understand how internal processes are impacting cyber risk governance.
  • Getting prepared for auditing: Whether it’s an audit from the government or by an independent third-party, having controls and analyzing them on a regular basis will ensure that you’re never caught off-guard.
  • Generally better legal compliance: Data breaches have put companies and governments on edge, and getting all your departments to work together on instilling internal controls for cyber security is the best way to ensure compliance.

Once you have a streamlined set of controls that efficiently covers multiple aspects of cyber risk governance, you won’t have to spend as much time on these risks, and your employees and departments can focus their efforts on their main objectives.

Start Getting Value With
Centraleyes for Free

See for yourself how the Centraleyes platform exceeds anything an old GRC
system does and eliminates the need for manual processes and spreadsheets
to give you immediate value and run a full risk assessment in less than 30 days

Related Content

Information Security Risk

Information Security Risk

Information technology is an excellent opportunity for businesses to increase their capabilities, but it’s also a…
Supply Chain Compliance

Supply Chain Compliance

A supply chain is a delicate structure composed of multiple companies, decision-makers, and suppliers all working…
Compliance Automation Software

Compliance Automation Software

Security and compliance have always been critical tasks in business operations, and management teams have always…