BL 927 – Cybersecurity: The Board’s Oversight Role
As a result of a rapidly changing cyber-threat landscape and the growth of digitization, electric cooperatives recognize the need to effectively manage cyber risks. Boards face a balancing act with cybersecurity and continued pursuit of digital innovation, transformation, and meeting consumer-member needs. Together with the CEO and management, the electric cooperative board must carefully assess how much cyber risk it is willing to accept in order to pursue its overall strategy. This course is designed to help distribution cooperative directors find that balance and fulfill their cybersecurity oversight responsibilities.
KEY TOPICS
- Recognize the categories of cybersecurity risks faced by electric cooperatives, including: Operational risk, Financial risk, and Reputational risk.
- The legal responsibilities of the cooperative and the board itself related to cybersecurity.
- Integrate cyber risk discussions with those about the cooperative’s overall risk tolerance.
- Apply the board’s oversight responsibility.
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