The threat of a cyber-attack is one every modern business needs to understand. But what is the role of the IR professional during a cyber-attack?
This is the issue Jeannie Ong, chief strategic partnership officer at StarHub, will address at the IR Magazine Conference ‒ South East Asia 2016 this Thursday in Bangkok.
Given the impact on share price a data breach can cause, it is important that IROs take an active role during a cyber-attack, so Ong will analyze vital issues relevant to the IR professional in such a situation. These include:
• Being up to date with the company’s cyber-security measures to effectively address investor concerns
• Sharing information with senior management in real time
• Strategies to minimize short-term financial impact and longer-term risk of irreparable damage
• Making timely market announcements
• Maintaining activity records to better manage future situations.
The financial implications of cyber-attacks are severe: Lloyds of London, the world’s specialist insurance market, has estimated that such breaches cost businesses as much as $400 bn a year. In the US, meanwhile, the SEC says cyber-security is the biggest risk facing the financial system.
Ong says: ‘Cyber attacks can happen to anyone, any organisation and anywhere. Cyber security is a foremost boardroom matter and strategic guidance is needed.’
