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Managing cyber risk: what senior executives and business owners need to know

21 November 2016

Cyber security is a major issue for all businesses and is rapidly becoming a boardroom concern. As a growing threat for any organisation, the responsibility for defending a business from cyber attack can sit with senior executives who don't have security or IT backgrounds. So how do you manage this risk?

UCL has launched a new one-day course aimed at briefing senior executives on the latest issues related to cyber security and risk management.

Taught by visiting professor and management consultant, Dr Clayton Stewart, former White House National Security Council Staff Dr Jack Caravelli, and Senior Security Consultant and CEO, Nigel Jones, the course gives high-level, practical guidance for c-suite executives and business owners.

Register interest for 18 January: Cyber Threats and Solutions: Managing Cyber Risk for Senior Executives

The huge cost of cyber crime

The number of cyber attacks on businesses worldwide is growing at an astonishing rate. Businesses are struggling to keep up with cyber criminals who are agile, using the latest technology, and driven by a variety of motivations.

As a business, being a victim of such crimes and having your data and intellectual property breached puts your entire staff, suppliers and customers at risk. It can cause huge reputational damage.

A recent research report published by the Ponemon Institute, in partnership with IBM, highlights some of the costs of cyber crime for businesses:

  • US$ 4 million: the average total cost of a data breach
  • 29%: the increase in total cost of data breaches since 2013
  • “The biggest financial consequence to organizations that experienced a data breach is lost business. Following a data breach, organizations need to take steps to retain customers’ trust to reduce the long-term financial impact.”
  • Regulated industries, such as healthcare and financial services, have the most costly data breaches because of fines and the higher than average rate of lost business and customers.“

View our infographic on what senior executives need to do.

How senior management need to manage cyber risk

Companies not prepared for cyber crime are exposing their organisations to huge risks. It can be difficult for senior executives to fully understand and mitigate these risks in a rapidly evolving environment.

However, there are some key strategies that all senior management should use. Some key steps are outlined below and our one-day course with cyber crime and management experts will help you to define a cyber risk management structure within your own organisation.

More information

View our infographic on what senior executives need to do.

infographic image outlining cyber risk management


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Page last modified on 10 August 2016 09:01