Heidi Roth, EVP, CAO and controller at Kilroy Realty Corp. (NYSE: KRC), joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Roth noted that during the past year it has become increasingly evident that the cybersecurity threat “knows no boundaries,” as companies both large and small have come under attack.
Among the most critical steps REITs should take to deal with the threat is to recognize that cybersecurity risks should be part of a company’s overall corporate governance, risk management and planning framework, Roth said.
At the same time, REITs should perform a comprehensive risk assessment to identify their specific risk factors, and come up with a plan to mitigate those risks, she added.
Roth also stressed the importance of having a well-vetted cyber incident response plan in place to ensure preparedness in the event of an attack.
Meanwhile, Roth also emphasized the importance of internal education.
“Internal education is critically important throughout the organization. From the board room to the mail room it’s critically important for everyone to understand the sensitivity of the information that they are responsible for and to protect that information,” she observed.