Financial industry executives have a unique responsibility to protect investors and proprietary firm information from compromise.
The notion of cybersecurity as an IT department issue has long since been re-assessed by securities firms and the topic is now taken into the board room. Discussions include much more than security of networks, systems, applications, and data; but cover a whole gamut of “what if” scenarios, company policy, and risk reducing strategy.
For FINRA (Financial Industry Regulatory Authority), cybersecurity protection measures include a broad swipe approach that covers compromise through use of any electronic digital media (e.g. computers, mobile devices, Internet based systems, ipads, software solution providers). And, no matter how much of the cybersecurity task is outsourced to IT professionals, the ultimate responsibility lands on the shoulders of each firms executive leadership. For this reason Cybersecurity practices have taken a front and center seat in board room discussions that reach past IT to operations, sales, vendors, and anyone else with access to electronic company data.