KEEP YOUR INFORMATION SAFE TO CONTINUE YOUR GROWTH PATHKEEP YOUR INFORMATION SAFE TO CONTINUE YOUR GROWTH PATH
“As my company grows, are we becoming more vulnerable to a cyber incident?”
“How do I prevent a data breach?”
“Do I have new compliance responsibilities relating to cybersecurity?”
“How can my company build systems and processes that are secure?”
BENEFITS WHEN YOUR GROWING FIRM IS PROTECTED:
ENSURE CONTINUED GROWTH AND FOCUS ON CORE BUSINESS
DEVELOP SYSTEMS AND PROCESSES THAT ARE SECURE
MAINTAIN YOUR FIRM’S REPUTATION FOR FUTURE INVESTORS
MEET NEW COMPLIANCE REQUIREMENTS
IMPROVE CORPORATE GOVERNANCE CONCERNING CYBER RISK
KEEP SENSITIVE INFORMATION SAFE
AVOID FINES AND LITIGATION
REDUCE CYBER INSURANCE PREMIUM COSTS
Ransomware can lead to work stoppages: Nearly 3 out of 4 companies infected with ransomware suffer two days or more without access to their files. A notorious example of a ransomware attack that hit companies worldwide was the spring of 2017 WannaCry outbreak, which afflicted over 200,000 computers in over 150 countries. Its global costs have been estimated to total a whopping $8B.
In the summer of 2017, the NotPetya ransomware variant ensnared thousands of businesses and public institutions in a global net. Despite letting victims pay a ransom, it wreaked essentially unrecoverable damage. Cybersecurity is a corporate risk: Many directors acknowledge that because the cyber threat is new and rapidly evolving, their board oversight processes are immature. Even boards skilled at overseeing complex financial risks, such as major banks, are still learning how best to manage cybersecurity, given customers’ and managers’ unending demand for technology and connectivity. Because cyber risks are so novel and evolve so rapidly, boards have developed many different structures for overseeing them. They often struggle with defining roles and responsibilities between the board and company management, as there is no industry standard.
A data breach will slow growth: A 2017 report by Comparitech showed that right after a breach, a company’s stock price would drop 0.43% on average, but that is par for the course in daily volatility. The bigger problem comes in the years that follow. After a breach, a company’s stock price will continue to rise but at a much slower pace than before. “In the long term, however, the average share price stagnated and struggled to surpass 10 percent growth until after about two years, when it starts to pick back up again.” Before a breach, the stock price of the companies studied increased by 45.6% over three years, on average. After a breach, those stock prices only grew 14.8% in the same period.
Hackers could steal your data and your client’s data, and you might not even know it. Growing firms stand a lot to lose when they publicize a cyber breach. News of a security breach can severely damage a firm’s reputation. Bawn is here to help prevent this from happening to you.
OUR SERVICES INCLUDE:
- Cyber Assessments and Certifications: We examine all aspects of your information system, accounting for people, processes, and technology. We let you know the risk profile, help leadership develop a risk appetite strategy and develop a roadmap to move your company to a better security posture. We also help your company obtain the necessary certifications to instill customer confidence that their information is secure.
- Cyber Risk Governance: We work with your senior leadership and board members to ensure they are informed about cyber risk and develop an overall risk management strategy to increase your company’s resilience.
- Cyber Planning and Implementation: Our technology and security experts team will develop a comprehensive strategy to reduce your company’s information security risk. Working with the IT department and existing infrastructure, our solutions are a thoughtful balance between security and operations, using a framework of personnel, processes, and technology.
- Cybersecurity Training Programs: When we help companies with cybersecurity, we always focus on security awareness for firm employees as well as portfolio companies. Cybersecurity for growing companies must require good cyber awareness sessions to be effective.
- Incident response: Responding to a significant breach is a precarious moment for a growing company Money, data, and reputations are at stake. Our team works hand in hand with legal counsel, management, and the IT department to quickly isolate the problem, remediate affected systems, and restore operations while maintaining confidentiality.
- Insider Threat Programs and Investigations: Not all cyber threats originate from outside an organization. Our team includes some of the top insider threat experts in the country. We can help your organization identify and address an existing internal threat or design a program to reduce the internal threat before it occurs.
- Business Continuity: Our digital forensics team can back up data of the largest networks, ensuring quick restoration of operations in the event of cyber-attack or other disasters that affect your firm or your portfolio companies.
- Cyber Liability Insurance: Using our framework-based risk assessment, we work with insurance companies to find the cyber liability coverage that is most appropriate for your firm and your portfolio companies.