According to a recent survey, about 45 percent of companies do not have a chief information security officer (CISO). As technology consultancy West Monroe's The Importance of a CISO observes, it would be terrific for all organizations to have a CISO, but that simply may not be practical for some, particularly smaller organizations. Recent internal audit guidance issued by the federal Department of Labor (DOL), however, directs its investigators to verify the designation of a CISO when auditing retirement plans.
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Do Retirement Plans Need a Chief Information Security Officer?
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Cohen & Buckmann | Aug 2022
DOL Issues Cybersecurity Best Practice for Retirement Plans
The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) in April 2021 issued much-anticipated cybersecurity guidance for employee retirement plans. The essence of the guidance is that responsible plan fiduciaries have an obligation to ensure proper mitigation of cybersecurity risks.
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DOL Issues Cybersecurity Best Practices for Retirement Plans
Jackson Lewis via SHRM | Apr 2021
Related reading: Cybersecurity Requests Appear in DOL Audits
Groom | Oct 2021
New Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Record-Keepers and Plan Participants
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