Cyber Risk-Reporting Service
Financial Insights Delivering Better Cyber Risk Decisions
The X-Analytics Cyber Risk-Reporting Service brought to you by NACD is an annual subscription that provides quarterly Board reports highlighting the financial exposure attributed to an organization’s cyber risk leveraging the same analytics used by leaders within the cyber insurance industry. The reports detail the following:
- An organization’s overall financial exposure to cyber risks and cyber-attacks,
- A view of the cyber threats most likely to cause financial loses to a business,
- Insights on the cyber controls most effective in mitigating financial losses, and
- Insights on cyber risk transfer/cyber insurance, including ”stress testing” existing policies across of range of potential cyber incidents.
The NACD has partnered with Secure Systems Innovation Corporation (SSIC), the innovators behind X-Analytics, to refer this service to NACD members. The X-Analytics team includes experienced subject matter experts in cyber risk management, corporate governance, and regulatory compliance across multiple industry sectors.
- Quarterly discussion with your designated representative to collect basic company information (i.e., nature of business operations, geographical operating regions, employee headcount, etc.) and material business changes (for quarterly updates).
- The Cyber Risk Advisory team prepares and delivers a tailored financial cyber risk analytics report based on the findings of the quarterly discussion and changes in the evolving cyber risk landscape.
- Converts the highly technical nature of cyber risk into easy-to-understand business metrics to support effective cyber risk board oversight: Incorporate financial cyber risk analysis to elevate cyber risk governance including materiality analysis supporting current and emerging regulatory requirements.
- Provides prioritized cyber risk mitigation guidance and trend analysis: Establish prioritized risk mitigation plans to reduce business and financial exposure to cyber-attacks.
- Provide framework and supporting analysis for quarterly cyber risk oversight: Transform technical security conversations into effective board oversight discussions. Establish metrics and measure progress over time.
- Demonstrates strategic commitment for effective cyber risk oversight: The NACD Cyber Risk Advisory Service leverages key principles outlined in the NACD Director’s Handbook on Cyber Risk Oversight.
The services described above are created, produced, and delivered by SSIC. NACD is not responsible for the report(s) nor the associated services.