Page 24 - Print Version volume 21 number 1070
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Page 24                                  C o n t i n u at i o n                                                           Fortune Vol. 21 No. 1070 Nov. 1, 2020

Better to be Resilient . . . (Cont'dfrom PAGE13)                                                                                                                  demonstrate an unwavering
                                                                                                                                                                  commitment to cybersecurity by
                                                                                                                                                                  consistently communicating the
                                                                                                                                                                  importance of cybersecurity.

experienced a data breach caused         could undermine the gains of           are considered early in the design        are not technological. They are         What all of this points to is that
by a third party, and more than          innovation.                            phase and effective governance            found in the human brain in the         as cyberattacks become more
75pc of organisations believed                                                  structures must be embedded in            form of curiosity, ignorance, apathy    sophisticated and persistent,
that third-party cyber incidents         These technologies have data           innovate programmes to manage             and hubris,” stated a Harvard           organisations need to shift priority
were increasing, according to a          privacy issues and are insecure by     the risk exposure and ensure the          Business Review article, "The Best      from cybersecurity to cyber
2018 study by Opus and Ponemon           design as most services prioritise     appropriate security controls are         Cybersecurity Investment You Can        resilience.
Institute, "Data Risk in the Third-      functionality over security. Due to    implemented in these products             Make Is Better Training."
Party Ecosystem," after surveying a      this, the number of cyber incidents    before roll out to customers.                                                     “Nature was designed with the
thousand chief information security      associated with new technologies                                                 Cyber attackers are aware of this       recognition that things can and
officers and other security and risk     is increasing. Indeed, a fifth of      But perhaps the most consistent           fact and through various scams          inevitably will go wrong,” a report by
professionals.                           breaches investigated were in cloud    factor in all major cybersecurity         and tactics, can bring multimillion-    Accenture, a professional services
                                         environments, according to a 2020      incidents across the world                dollar organisations to their knees.    company, ‘The Nature of Effective
Although outsourcing has great           report by Trustwave, a security        is the human factor. These are                                                    Defense: Shifting from Cybersecurity
benefits, it also introduces cyber       services provider.                     frontline personnel, call centre          A cyber-aware workforce is critical     to Cyber Resilience’ stated. “That’s
risk to an organisation. Outsourcing                                            staff, system administrators and          to the success of any cyber resilience  equally true of security incidents.
means the information assets will be     For organisations to adapt their       senior executives. Having the latest      strategy. Executive leadership and      There’s no question that they will
stored, processed or transmitted         product and services, they must        cybersecurity tools alone cannot          support are required to achieve and     occur.”
by a third party. The risk exposure      experiment with emerging               guarantee cyber resilience.               maintain the cultural shift through
must be identified, prioritised and      technologies. Executive leadership                                               cyber awareness programmes.             Organisations must prepare to
managed.                                 must ensure security requirements      “Major sources of cyber threats           Executive leadership must also          minimise the impact of incidents as
                                                                                                                                                                  it is impossible to predict when they
To manage this risk effectively, banks   Female Entrepreneurship . . . (Cont'dfrom PAGE20)                                                                        will occur.
must assess the security controls
of suppliers when onboarding,            a disadvantage compared to their       women were charged high-interest          go so far in creating opportunities     As executive leadership sets the
classify suppliers based on criticality  male counterparts - the present        rates and requested to provide            for women. Critical actors, such        mission and defines strategies,
to the business, and identify all        adverse discrimination existing in     higher valued collateral on smaller       as the government and financial         they are best placed to determine
possible threats associated with         the lending process.                   loans than men.                           institutions, need to be engaged as     how cyber incidents will affect the
every particular supplier. Designing                                                                                      well. The government should deepen      organisation. Executive leadership
a risk-based cyber assurance             Older studies in fact demonstrated     The problem becomes more                  or increase the support it offers to    must drive the cybersecurity to
programme for suppliers and              this by separating access to credit    complicated considering the factors       women as the economic conditions        cyber resilience cultural shift and
business partners will foster agility    and terms and conditions under         that do not have to do with finance       and financial system of the country     champion its importance throughout
and allow innovation to thrive.          which credit is obtained. The          institutions themselves. Studies show     do not allow women to acquire           the entire organisation.
                                         terms under which women access         that while there is evidence women        finance favourably from financial
Security must also be enforced by        credit are not appealing and more      are disadvantaged in accessing            institutions.                           A cyber resilient organisation must
design. Organisations are prompted       constraining than those of their male  financial credit, the reasons lie                                                 continuously focus on the most
by emerging technologies to assess       counterparts, as it was found in the   more in other dimensions related          Financial institutions should be        critical assets, enforce security by
their viability and how they can be      academic journal article "Access       to female inclusion in the modern         proactive and find innovative ways      design approach throughout its
used to innovate and adapt their         to Capital and Terms of Credit: A      market economy such as education          to accommodate women. The glass         digital transformation programmes,
products and services. The use of        Comparison of Men- and Women-          and the labour force.                     ceiling is thick and tough. The GERD    prioritise and manage third-party
technologies like cloud computing        Owned Small Businesses," by Susan                                                is only one way of weakening the        risk and set the cyber resilience
and the Internet of Things involves      Coleman (PhD). For instance,           This is why the GERD in itself will only  hold. Access to finance is the other.   tone at the top.
both great opportunities and cyber
risk, and if not managed effectively,                                                                                                                             Organisations need to stop reacting,
                                                                                                                                                                  starting prioritising and become
                                                                                                                                                                  cyber resilient.

         A NN O U N C EMENTS

                                         Ethiopian Reinsurance Share Company

                                         VACANCY ANNOUNCEMENT

The Ethiopian Reinsurance Share Company /Ethio Re / is the first reinsurance company in Ethiopia which commenced operation on
July 1, 2016. The Company invites qualified candidates to apply for the following vacancy:

S. No    Job Title                       Minimum Qualification Requirement                                                Work Experience                         Required
                                                                                                                                                                  Number

1        Database & Security             Bachelor’s Degree in Computer Science,                                           Four (4) years of directly              1
         Administrator                   Information Technology, Information                                              related experience in (Re)
                                         System or related fields.                                                        insurance.

How to apply:

Only candidates meeting the required qualifications are invited to apply in person at Kirkos Sub City Woreda 9, Bitweded Baheru
Abraham Tower 6th Floor, Application letter accompanied by CV and copies of credentials shall be submitted within 10 working days
from the date of this announcement.

   ¾¾ Applications will not be returned.  Ethio Re discourages phone calls.
   ¾¾ Only applicants meeting the minimum qualification will be short listed and contacted.
   ¾¾ Your application letter/cover letter must include name of the position you applied for, date of application and summary of your

       qualifications and experience.

                                                                           Address:

              Ethiopian Reinsurance Share Company Kirkos Sub City Woreda 9, Bitweded Baheru Abraham Tower 6th floor.

               Ethio- Re is an equal employment opportunity employer and considers all applicants on the basis of merit.
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