Are boards skilled for managing technological risk?

Recently I was privileged to be part of a panel at the Governance Institute of Australia's annual conference. The focus was considering the risk universe and in particular, the board skills necessary for dealing with technological risk.

The panel was chaired by Founder and Chief Executive of Digital Asset Ventures Anthony Stevens, and the other panellists brought significant technology skills, including Macquarie University's Professor Michael Johnson and Group Executive - Technology at ANZ Bank Gerard Florian.

The panel considered the nature of technological risk in the current environment where governance extends far beyond the borders of the organisation's operations and into the organisations with whom they transact, share services, and share information. There is also the impact of the BYOD world where employees are empowered to use technology often outside the organisation's direct oversight.