Incident Response Tool

In brief: This tool outlines the key steps that boards should consider in order to ensure that their corporations have an effective incident response program. Incident response capability is essential for quickly detecting incidents, minimizing loss to the organization, and restoring business services. This brief originally appeared in Cyber Risk Oversight 2020: Key Principals and Practical Guidance for Corporate Boards and was written by Nasrin Rezai, global chief information and product cybersecurity officer, General Electric and Greg Montana, chief risk officer, FIS.

The focus on the board’s compensation committee has never been sharper. The components of compensation plans and the link between compensation and company performance are under intense scrutiny from shareholders, employees, policymakers, the media, and other stakeholders. The Report of the NACD Blue Ribbon Commission on the Compensation Committee revisits NACD’s 2003 Report of the NACD Blue Ribbon Commission on Executive Compensation to highlight the new environment in which compensation committees—and, more broadly, boards—are now operating. It recommends that the compensation committee and board work together to establish an executive compensation philosophy that supports the company in creating long-term, sustainable value.

The report includes ten specific recommendations for compensation committees to consider when evaluating their compensation philosophies. It also provides practical tools, such as sample compensation committee charters, a compensation committee assessment, and guidance on executive employment contracts.