MIT/FRS Annual Conference on Measuring Cyber Risk (2024)

2024-01-17 - 1 minute read

On January 17-18, 2024, the Federal Reserve Board of Governors, the Federal Reserve Bank of Richmond, and the Massachusetts Institute of Technology’s Internet Policy Research Initiative hosted over 400 experts from industry, government, and academia to discuss efforts to measure and model cyber risk across the financial system. Over the course of two days, participants discussed how cyber risk is increasingly viewed in the broader context of enterprise risk and how firms and governments can improve communication about threats and risk. Several speakers argued that risk models need not be overly complex. Modelers should instead put an emphasis on fundamental controls. Industry members and regulators called for more collaboration on research and risk analysis to collectively strengthen the defenses of the sector, improve resilience, and provide tools for firms to better manage their own risks