Board Meetings are one of the most the crucial aspect of running the business where senior executives not only gets to discuss business goals and objectives, but can also raise their concerns and demonstrate quarterly/annual performances. On one hand where board members are primarily concerned with revenue and profit of the firm, information security may not be often be their primary agenda for board meetings. Hence, it becomes of primary importance for CISOs to plan and well-prepared for planned as well as unplanned board engagements. We had a panel discussion on "Planning your Board/Management Engagements for 2018" at our CISO Platform Top 100 Decision Summit, Pune 2018.
Panelists:
- Anand Pande (GSTN)
- Siddharth Sharad Padbidri (MetLife)
- Anuprita Daga (Reliance Capital)
- Rejo Thomas (Exide Life)
- Durga Dube (Reliance) [moderator]
Key Learning: "Planning your Board/Management Engagements for 2018"
- Preparation for meetings with the board for planned engagements
- Performing your homework before the engagement with detailed operational data (supporting number & figures)
- Understanding expectations & requirements of the board
- Presentation to be concise, with preparation on further details in case of query only
- Mostly communicating about what's working and what's not, instead of complaining and demonstrating problems
- Understanding skill sets of the different board members
- 3 Broad things/points one should remember while communicating to the board
- Socializing your ideas to board members in advance
- Preparation against breaches rather than talking about incident breaches,i.e, conveying a message that breach is inevitable but we are prepared against all forms of breaches
- Expectations and composition of board
- Why a Security officer would want to go to the board?
- Knowing business objectives and aligning security objectives accordingly
- Routine Reporting which is a regulatory requirements
- Learning from the board and getting the exposure
- Financial Funding or getting approval for external resources
- Lastly, it's an honor for a security officer to be in board
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