President Obama called cyber-risk one of most serious economic and national security challenges facing America. Developing robust cyber-risk governance programs could not be more important for businesses today. General counsel and their legal teams must help lead the way on cyber-risk governance.
At a glance:
- The scope of corporate counsel’s responsibilities has expanded. They are now often responsible for companywide risk management, cost control, regulatory compliance and other areas that affect the company’s reputation and bottom line.
- As a result, management and the board are relying more and more on corporate counsel to be both steward and shepherd of cyber-risk governance programs.
- Counsel should make sure the company’s statutory, contractual, regulatory and reputational liabilities are properly managed and minimized.
- Writing in Metropolitan Corporate Counsel, David White explains how counsel should develop a comprehensive cyber-risk governance program—one that considers cybersecurity from a broad perspective.