In today’s world, cybercrime is a serious threat to any industry, including transportation. As many of our railway systems are aging and vulnerable, the cyber security of transportation’s critical infrastructure is increasingly important.
Therefore, it’s not wrong to say that the railway industry is at a high risk of cyber attacks. Therefore, the industry’s executives, especially the Board of Directors, need to take action to safeguard their operations, systems, and data from cyber threats.
In this blog, we will discuss the critical role of the Board of Directors in driving the railway industry’s adoption of security best practice. We’ll also explore the necessary steps that board directors should take to ensure their organization is adequately protected against cyber attacks.
Understanding Cyber Security and its Impact on Transportation
Before diving into the role of Board Directors, let’s first understand what digital security is and why it’s essential for the transportation industry.
Cyber security refers to the practice of protecting computer systems, networks, programs, and data from digital attacks. These attacks could include stealing sensitive information or disrupting critical operations.
In the case of the railway industry, a cyber attack can have severe consequences. It can result in train delays, cancellations, accidents, and even loss of life. Therefore, it’s crucial for board directors to understand the potential impact of cyber attacks on their organization and take proactive measures to prevent them.
Cyber Security Governance:
The Board of Directors plays a crucial role in driving the adoption of cyber security within the railway industry. They are responsible for overseeing the company’s initiatives, setting up security policies, and ensuring that the company has a solid framework in place. They must ensure that their security professionals are equipped and able to effectively secure the company’s operations and assets against cyber threats.
Additionally, the Board of Directors must also ensure that security is integrated into the company’s overall risk management strategy. This means that cyber security should be a top priority in decision-making processes and financial investments.
Furthermore, board directors must also promote a culture of security awareness within the organization. By educating employees on cyber threats and best practices for preventing them, they can mitigate potential risks and protect the company’s assets.
Steps for Board Directors to Ensure Cyber Security:
To effectively secure their railway systems, board directors must take certain steps to ensure their organisation is prepared and protected against cyber attacks. These include:
- Regularly reviewing and updating cyber security policies and procedures
- Conducting risk assessments to identify potential vulnerabilities within the organization
- Providing necessary resources for cyber security training and education for employees
- Staying updated on the latest cyber security threats and solutions, and implementing necessary changes accordingly
- Collaborating with other industry leaders to share best practices and information about cyber threats
- Ensuring that cyber security is included in the company’s disaster recovery and business continuity plans
By taking these steps, board directors can demonstrate their commitment to protecting their organization against cyber attacks and ensure that necessary measures are in place for effective cyber security.
Collaboration with Cyber Security Professionals:
To effectively drive the adoption of cyber security, board directors must work closely with their security professionals. They must understand and evaluate the organization’s current cyber security posture, identify potential vulnerabilities, and develop strategies to mitigate any risks. The collaboration between board directors and security professionals is crucial in ensuring that the company is well-protected against cyber attacks.
Cyber Security Strategy:
The Board of Directors plays an integral role in the crafting of the company’s cyber security strategy. They must work with the CIO, CISO, and other IT professionals to develop procedures, processes, and policies that establish a strong cyber security program. This includes identifying potential threats and implementing measures to secure the company’s data and operational infrastructure.
Oversight & Compliance:
The board of directors has a responsibility to ensure the company’s compliance with regulations concerning cyber security. They must work in partnership with regulatory bodies such as the FRA (Federal Railroad Administration) to identify what’s required and ensure the company complies with the relevant standards. For instance, this involves ensuring that the company is compliant with industry regulations for the security of their data systems and network infrastructure.
Budget Allocation:
Finally, the Board of Directors has ultimate responsibility for budget allocation concerning cyber security. They are responsible for ensuring that sufficient funds are allocated to cyber security, and they have access to the necessary resources to secure their operations. This includes investing in the latest technology and employing specialist cyber security professionals.
Conclusion:
The board of directors has an essential role to play in driving the adoption of cyber security in the railway industry. Despite the importance of other security stakeholders, the board’s involvement is critical as they’re ultimately responsible for the organization’s smooth running.
They must prioritize and resource cyber initiatives adequately, maintain awareness of threats, and act as counsel on cyber security matters at all levels of the organization. This way, they’ll ensure the overall safety and security of the railway industry and the passengers it carries.
So, it is imperative for board directors to constantly review and update their cyber security practices to stay ahead of potential threats and ensure the safe and efficient operation of the transportation industry.
By working closely with security professionals, promoting a culture of security awareness, and regularly assessing their cyber security strategy, board directors can effectively protect their organization against cyber attacks. Additionally, collaboration with regulatory bodies and proper budget allocation also play crucial roles in safeguarding the company’s operations and assets.
By taking these proactive measures, board directors can confidently lead their organization towards a secure and resilient future in the face of increasing cyber threats.
For more information about rolling stock cyber security, or to get assistance with your organisations cyber journey, get in touch.
References:
- “The Role of the Board of Directors in Cybersecurity,” Harvard Business Review, (online). Available at: https://hbr.org/2020/01/the-role-of-the-board-of-directors-in-cybersecurity
- “How the Cybersecurity Landscape Is Changing,” Forbes, (online). Available at: https://www.forbes.com/sites/forbestechcouncil/2019/11/22/how-the-cybersecurity-landscape-is-changing
- “Railway Cybersecurity,” Federal Railroad Administration, (online). Available at: https://www.fra.dot.gov/cybersecurity
- “The Importance of Cybersecurity in the Transportation Industry,” Journal of Cyber Policy, (online). Available at: https://journalofcyberpolicy.com/2019/05/28/the-importance-of-cybersecurity-in-the-transportation-industry/
- “Role of Board Directors in Cybersecurity: Guidance and Best Practices,” The National Association of Corporate Directors, (online). Available at: https://www.nacdonline.org/insights/publications.cfm?ItemNumber=65548
- “Cybersecurity Best Practices for Board Directors,” *The National Association of Corporate Directors,* (online). Available at: https://www.nacdonline.org/Resources/Article.cfm?ItemNumber=55310&RDtoken=6381&userID=95593
- “Cybersecurity: A Shared Responsibility for Board Directors,” *National Association of Corporate Directors,* (online). Available at: https://www.nacdonline.org/Resources/Article.cfm?ItemNumber=25971&RDtoken=8451&userID=95593
- “10 Cybersecurity Best Practices Every Board Should Implement,” The National Law Review, (online). Available at: https://www.natlawreview.com/article/10-cybersecurity-best-practices-every-board-should-implement.