2022New York City, NY, November 17, 2014 -- /EPR NETWORK/ -- Boards have a duty to protect its assets, including digital assets, to protect shareholder interests. They usually consider factors affecting earnings, free cash flow and PE multiples, including reputation/brand erosion indices. Yet they have not seen a direct link between cyber risk and factors which affect share value, or the next quarterly report. If they could measure cyber risk impact upon financial statements and reputation indices, they could allocate expenses commensurate with exposure, and integrate cyber risk into enterprise risk strategy.
That is the subject of the keynote speech Robert Gardner, founding partner of New World Technology Partners (NWTP), will present at Cyber Security World Conference 2014 New York City (http://CyberSecurityWorldConference.com), unique forum where cyber security experts are set to discuss topics such as protecting individuals and companies against cyber-attacks, biometrics as the future of security, risks brought by mobile computing, and protecting corporate and national infrastructure against foreign attacks.
Mr. Gardner’s presentation, "The Enterprise Impact of Cyber Risk - through the Shareholder Lens," is based upon 40 years of study and practice of cyber assurance. Beyond the security that can be achieved by responsible cyber hygiene (which we still do not practice, but can prevent 75% or more of the problem), according to Mr. Gardner, critical infrastructure and national leaders must consider two paradigm shifts in their risk management thinking:
1. The cyber eco-system underpinning their enterprise is not what they think it is - it has become a real-time complex system of systems - where runaway complexity presents systemic risks and exploitable vulnerabilities, which may have immediate, irreversible stakeholder consequences.(i.e before the next 10Q or congressional hearing)
2. It can be managed by isolating the most consequential incidents - quantifying and prioritizing (aka Risk Triage) their financial, reputation/political and legal/regulatory exposure - which can be achieved by several old ( Bell Labs vintage system engineering analyses) and new (socio-political sentiment analysis) techniques.
However the C-Suite and their Boards must really get into the game to set the tone and become Cyber Exposure savvy, says Mr. Gardner. He has been a leader in cyber and critical infrastructure risk management technology and an incubator of technology enterprises since the mid-seventies. Mr. Gardner managed/participated in the launch of several development stage companies formed around those technologies, including August Systems, Verdix, Meiko Scientific, Cryptek, Phoenix Numeric and Probity Labs.
Incubated iRISK™ Enterprise Risk Management methodology for a Fortune 500 enterprise to quantify the financial and public reaction (brand) consequences of cyber risk affecting shareholder and national security interests. Underlying intellectual property was vetted by industry, government and academic leaders in Energy, Financial Services, Chemical and Homeland Security communities.
Rebuilt security division of a public company which developed the first B2 Multi-level Secure (MLS) Network evaluated by NSA, and spun it off to a public secure communications company. Arranged financing and managed turn-around of the merged company. Strengthened secure products portfolio for U.S. and International markets, which reversed losses and achieved rapid profitability. Coordinated sale of company to prominent U.S. hedge fund.
Member of startup team which developed NASA’s Software Implemented Fault Tolerance (SIFT) technology, pioneering Triple Modular Redundant (TMR) fault tolerant control systems. Business achieved success among International energy companies and Government Agencies. Subsequently spun off and acquired by ABB, which still operates 1000s of systems.
Incubated Supercomputer technology into products for U.S. operation of a U.K. parallel processing company. Successfully competed for high visibility Government and Industrial accounts, and was awarded the 1991 Northeast Small Business Prime Contractor of the Year recognition.
Prior to forming NWTP, he held senior engineering and technical marketing positions for ILLIAC IV, PEPE, LDSP and NASF supercomputer projects at Burroughs Corporation, for which he received numerous technical and market accolades and awards. He often writes and speaks on topics regarding intellectual property and has prepared briefings and testimony for the U.S. House of Representatives and Senate caucuses on the technology impact on Financial (TARP) Infrastructure and The “First Three Hours” Emergency Response Methods. Mr. Gardner also teaches business planning for artists at New York City’s “Third Ward” creative incubation center, and assisted formation and governance of New York based arts enterprises, including The Brick Theater and In The Pocket NYC. He has a BSEE from Rensselaer Polytechnic Institute and studied graduate system engineering and business administration at Penn State and the University of Santa Clara respectively.
About Cyber Security World Conference 2014:
Cyber security is never again a term to ignore for individuals or corporations. The daily activities of all Americans, the country’s global economic prominence and worldwide security rely on a safe and resilient cyberspace. Unfortunately, the number of cyber-attacks has increased dramatically over the last years, exposing confidential personal and business data, disrupting critical operations, and imposing exorbitantly high costs on the economy overall.
Just recently, J.P. Morgan Chase, America’s largest commercial bank with $2.39 trillion in assets, announced that about 76 million households and 7 million of small-business customers had been affected by a cyber attack in one of the most sweeping disclosed global breaches. The bank said the unknown attackers stole customers’ contact information, which included names, email addresses, phone numbers and addresses, affected an amount equivalent to two-thirds of American households. A brief walk down memory lane of some the biggest recent cyber-attacks now include Adobe Systems, Automated Data Processing, Citigroup, E*Trade Financial, Fidelity Investments, Home Depot, HSBC, Nasdaq OMX, Neiman Marcus, Target and Wal-mart. It is not unlikely to consider that the information of every American has already been compromised in any of these publicly disclosed attacks.
Renowned information security experts and innovative service providers will present at Cyber Security World Conference 2014 their latest thinking to hundreds of senior executives focused on protecting enterprises and governmental agencies. Cyber Security World Conference 2014 produced by Golden Networking, the premier networking community for business and technology executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to information@goldennetworking.com.
Contact:
Julia Petrova
Golden Networking
New York City, NY
414-367-8670
jpetrova@goldennetworking.com
http://www.goldennetworking.com
