Report explores cyber resilience, defining its differentiation from cyber security
- Published: Tuesday, 02 July 2019 08:32
The Financial Education & Research Foundation (FERF), the independent non-profit research affiliate of Financial Executives International (FEI), has released the ‘Protection vs. Preparation: The Critical Difference Between Cybersecurity and Cyber Resilience’ report sponsored by Microsoft. The report provides a foundation for executive leaders of any company seeking to understand why a cyber resilience strategy is necessary, what such a strategy consists of, and how to implement one.
The report explains the concept of a cyber resilience strategy, explaining its role as a preparedness plan for survival and recovery in the event of a cyber attack. Expert commentary walks readers through how a properly defined cyber resilience strategy takes into account business continuity, cyber security, crisis communications, and more.
The report is structured around the following areas:
- Cyber security vs. cyber resilience
- Maturity of cyber resilience in the United States
- Laying the foundation for effective cyber resilience
- Becoming More cyber resilient
- Leadership and ownership
- How does your company stack up?
The bulk of the research hinges on first-person information conveyed by distinguished cyber security experts from companies including Microsoft and Iron Net Security as well as organizations including the Information Systems Audit and Control Association (ISACA) and the Homeland Security Program and International Security Program at the Center of International and Strategic Studies.
"Businesses have taken monumental strides when it comes to cyber security," said Mark Simos, Lead Architect, Cybersecurity Solutions Group, Microsoft. "However, it's time to shift the mindset to go broader. It's time to create a dedicated crisis plan that, should it have to be used, will enable you to minimize the financial, operational, and brand reputation damage inherent to any data breach. A swift recovery requires understanding the proper protocols and resources needed to recover. And, it needs to be a company-wide responsibility to work. Not just that of a CTO or CIO. FERF's cyber resilience study provides an invaluable introduction to how to accomplish this."