Cybersecurity is no longer just an operational issue – it’s a boardroom imperative.
With Australian businesses facing growing legal and financial exposure, directors are now expected to understand, oversee and respond to cyber threats with the same diligence they apply to financial or operational risks.
According to the State of the Industry 2024 report, 69% of Australian organisations have experienced a ransomware attack, and 83% say they would consider paying a ransom. Yet many Boards remain unprepared to govern these risks effectively.
Personal liability is on the rise
Legislative reform is reshaping the expectations placed on directors. The passage of the Cyber Security Act 2024 has established clear protocols around incident response, data sharing and ransomware disclosures. The Act also introduced the Cyber Incident Review Board, which can issue post-incident recommendations following nationally significant cyber events.
As regulatory pressure increases, so too does the personal accountability of Boards. Directors who fail to demonstrate adequate oversight could now face direct consequences, both reputational and legal.
The knowledge gap at the top
Many directors bring deep expertise in finance, law or operations, but not necessarily in cybersecurity. As a result, there’s a significant gap between what’s required and what’s currently understood at the executive level. The State of the Industry report highlights that just 14% of businesses feel they have the necessary talent to meet emerging cyber challenges.
Frameworks like the Essential Eight and standards such as ISO 27001 provide clear guidance, but Boards often lack the confidence to assess implementation or challenge technical recommendations.
Building resilient leadership
To govern cyber risk effectively, directors must:
- understand the current threat landscape
- evaluate the organisation’s cyber posture
- oversee incident response readiness
- align cyber investments with business strategy.
This requires more than periodic updates from IT – it calls for a structured approach to governance. Some organisations are developing Board-level cyber dashboards and scheduling regular briefings from internal or external experts to improve decision-making.
The role of specialist partners
As a cyber and technology recruitment firm, Needus is increasingly supporting clients in building both technical and strategic cyber capability. This includes sourcing CISOs with board engagement experience, appointing cyber risk advisors and identifying executive leaders who can bridge the gap between security and strategy.
Effective cyber leadership isn’t just about reacting to threats – it’s about embedding cyber resilience into business thinking, at every level.
At Needus, we will help strengthen your cyber capability from the inside out. Whether you’re appointing a new CISO, refreshing your Board composition or seeking advisory talent, we can help you build leadership that’s ready for what’s next.
