The panel discussed pragmatic ways to ensure full transparency of cyber risk & highlight practical ways to enhance institutional cyber security posture by identifying, protecting, detecting and responding to cyber risk and recovering when breached. It took a broad, top down approach addressing governance, management, operational and technical issues.

 Questions/Issues addressed by the Panel

  1. It has been said that CyberSecurity has now become a Board room not a Back room issue. What board level structures do you have to enhance your CyberSecurity Posture?
    • Committees, composition, reporting requirements - frequency, content/metrics -  awareness, exercises/simulation, cyber risk insurance, holistic 3rd party Cyber Risk Assessments, CISO briefings, etc
  2. What CyberSecurity Best Practices do you practice? 
    • Periodic engagement with law enforcement, industry peer groups (e.g. ISSAN), Consulting/advocacy and government 
    • Exchange of threat information and possible mitigating techniques 
    • Adoption of revenant global best practices – tested ways of living the standards, etc.
  3. What do you consider as the biggest sources of your risks?
    • Internal Vs external
    • People - the weakest link?
      • Employees: Negligence/ignorance, Malice or Mischief
      • Suppliers/partners/ 3rd party outsourcing
      • Hackers
    • Technology
      • Vulnerable applications, Vulnerability Mgt practices, 
      • Malware
      • Legacy/open source/other apps
    • Processes
      • Manual, semi-manual, automated
      • Flat Vs Hierarchical structures
  4. What do you consider to be the top 2/3 most effective measures to enhance your Cyber Security Posture?
    • Have you implemented any? If so, how effectively? What are the challenges?
    • How do you measure impact?
    • How would you rate the CBN Cyber Security Guidelines as an industry initiative?
    • Have you implemented a SOC? What has been the impact?
    • Do you deploy data analytics, AI or other modern technology in your Cyber Security initiatives?
  5. There is a global  general trend towards Cyber Resilience….
    • What specific measures have you taken become more resilient?
    • What is your most formidable challenge to becoming cyber resilient?
  Click HERE to download below Keynote Presentation by Rakiya Mohammed, CISO, Central Bank of Nigeria

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