Diligent Board Reporting for IT Risk equips CISOs with third party risk scores

Diligent launched Board Reporting for IT Risk to provide CISOs and IT risk professionals with a holistic view of their organization’s risk posture.

“As cyber evolves so does the risk landscape, and it becomes a matter of not whether you’re going to be attacked, but whether you are prepared,” said Barbara J. Duganier, Board Member at Arcadis, Pattern Energy Group, Texas Pacific Land Corporation and others. “Having a standard set of metrics that help the board understand where threats are emerging, the latest incidents in the industry and key actions and outcomes, is really helpful to having an active dialogue with the CISO.”

Adam Bailey, SVP and Global Head of Product at Diligent added, “CISOs are confronted with an overwhelming amount of IT risk data, which can make it difficult to tell a clear and compelling story to the board. Board Reporting for IT Risk’s dashboard empowers you to deliver consistent and easily digestible reports with curated data, so you can spend less time aggregating information, and focus on delivering actionable insights.”

Board Reporting for IT Risk equips CISOs with third party risk scores benchmarked against industry peers, inputted into a templatized dashboard that can be surfaced to directors in the board portal, Diligent Boards.

Key features of the dashboard include:

• An independent, correlated and data-driven view of your organizational cybersecurity performance from Bitsight, a leader in cyber risk management. Bitsight ratings provide directors with an objective view of cyber risk performance that can be tied to the risk of financial loss from key threats, such as ransomware or data breaches.
• An outside-in view of your organization’s security posture so you can take preventative action. Scoring is based on cybersecurity ratings company SecurityScorecard’s trusted, transparent rating methodology and data collected on millions of organizations.
• Starting this fall, customers can manage and simplify their internal IT risk data collection in one secure platform and deliver an aggregated view of their organization’s risk posture within the dashboard alongside commentary, for data-driven decision making on where investment and prioritization is needed.

IT risk is near the top of every board’s agenda, yet aggregating an overwhelming amount of data and organizing it into a meaningful, consumable format for the board can be a tall task,” said Julie Tsai, former Head of Cybersecurity at Roblox and Board Member of Bay Area CSO Council. “The ability to streamline IT risk data collection and deliver insights in a concise and familiar way is hugely beneficial to help align board directors behind the work of risk professionals.”

Board Reporting for IT Risk is the latest innovation to come out of Diligent’s risk and strategy solution set. It compliments existing risk management tools like Diligent’s Risk Manager app, which enables customers to capture all risks and controls within the Diligent platform so that they are able to access and enrich information with ease, as well as the Asset Manager app, which helps customers easily manage the risk associated with their IT and third-party assets.