Partnering for Cyber Resilience

Cybersecurity is a high-level item on leaders' agenda across all sectors. Business, governments and individuals are rapidly taking advantage of faster, cheaper digital technologies to deliver an unprecedented array of social and economic benefits. The process of digitizing and connecting, however, introduces a range of new risks.
 
The Forum aims to help leaders identify and address these emerging business and social risks so that the benefits of digitization can be pursued with confidence. The overall objective of this work is to normalize cyber risks through the development of top-level leadership awareness, understanding and action on cyber risks. While leaders are now generally aware of the risks, we can observe a wide range of maturity in terms of understanding and action across different industry sectors and regions.

Ambition
 
The overall goal of the Forum's cyber security/resilience work is to normalize cyber risks. Normalizing cyber risk means that managing those risks should not arouse fear, uncertainty and doubt, but rather that it must become business as usual for individuals, companies, and governments. Even if the landscape of cyber risks is constantly changing, the Forum aims to ensure that we have the institutional and social mechanisms and the normative basis to constantly iterate defences and resiliency measures to manage those risks.

In service of this over-arching goal, the focus for 2016 will be on empowering boards and executive teams with tools and practices to identify and manage the business risks emanating from cyber threats. By supporting resilience at the governance level, the Forum's work will encourage cyber resilience throughout the enterprise and broader society.

Background

Through a number of multistakeholder working groups the Forum community has already contributed substantially to this space. Some specific outputs have included:

• Development of Principles & Guidelines (100+ CEO/Minister/SG level signatories across 14 industries and 23 countries), including Cyber Risk Framework and Maturity Model, further expanded here and below


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  Risk and Responsibility in a Hyperconnected World: analysis of global macro impact (up to $3 trillion/5% global GDP by 2020), future scenarios and a shared Framework for Global Collaboration


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  Towards the Quantification of Cyber Threats: innovative risk quantification model “Cyber Value-at-Risk” lays the foundation for consistent quantification within and across enterprises, potentially leading to further development of risk transfer/cyber insurance markets


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  Beyond Cybersecurity: book reviewing primary research with over 200 organizations on ‘gamechanging’ actions for business and governments