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Checklist: Navigating SEC cybersecurity requirements

January 09, 2024
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Risk consulting Cybersecurity consulting SEC matters

Actionable steps for organizations

In light of the SEC's broadened cybersecurity requirements, your organization must adopt a proactive stance to achieve compliance and enhance its overall security posture. Consider the following crucial steps to guide you on this journey:

Conduct comprehensive asset inventory and management

  • Know the assets: Begin by meticulously inventorying all assets within your environment. These assets include hardware, software, data repositories and more.
  • Invest in tools and processes: Recognize that asset management can be challenging. Invest in suitable tools and establish efficient processes to maintain an up-to-date inventory.
  • Validation is key: Regularly validate your asset inventory to ensure completeness and accuracy. A comprehensive view of your assets is foundational to effective cybersecurity.

Implement a unified control framework

  • Streamline your controls: To manage diverse requirements effectively, adopt a unified control framework such as NIST or ISO.
  • Mapping all requirements: Map SEC cybersecurity requirements and other relevant regulations into a single framework to avoid duplicative efforts and streamline compliance efforts.
  • Tailor controls to risks: Not every part of your organization requires the same level of security. Apply the control framework in a risk-based manner, ensuring that critical areas receive the highest attention.

Balance compliance and protection

  • While the SEC focuses on incident response and monitoring, remember to maintain a balance by comprehensively securing your organization.

Implement continuous control assessment and monitoring

  • Sustain control effectiveness: The journey doesn't end with compliance; it's an ongoing effort. Regularly assess and monitor the effectiveness of your controls.
  • Leverage automation and GRC tools: Employ automation and governance, risk and compliance (GRC) tools to streamline control monitoring. Automation helps ensure adherence to rules and protect your organization effectively.

RSM contributors

  • Matt Franko
    Matt Franko
    Principal

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