NIS2 Directive Summary For Beginners | EP 4

In this podcast, we dive deep into the NIS2 Directive and why it’s crucial for the future of cyber security. Whether you’re in the EU, the US, or part of the global supply chain, this directive impacts you. With NIS2 set to take effect on October 17th, 2024, it expands the original NIS directive to cover a broader range of sectors, including cloud services, digital markets, and more, requiring strict compliance measures. If you’re working in cyber security or want to break into the field, understanding NIS2 can give you a competitive edge. We’ll explore how this directive demands stricter security measures, supply chain security, governance, and incident reporting. Plus, we’ll discuss the increased penalties and how non-compliance could cost businesses millions.

Stay tuned to learn how this can shape your career in cyber security and what you need to do to ensure compliance. Don’t forget to subscribe for more insights and tips from StationX.

00:00 Introduction to NIS2 Directive

00:33 Why NIS2 Matters Globally

01:53 Key Changes and Implications of NIS2

02:50 Opportunities and Challenges for Cybersecurity Professionals

04:24 Compliance Requirements and Steps

08:04 Practical Steps for NIS2 Compliance

14:11 Conclusion and Next Steps

SHOW NOTES and NIS2 DIRECTIVE RESOURCES
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Transcript

We’re going to talk about something pretty critical for the future of cyber security—the NIS2 directive, which comes into effect on October 17th, 2024, or it might already be in effect depending on when you’re watching this. This is the day by which all EU member states must have integrated NIS2 into their national law.

Welcome! I’m Nathan from StationX, where we help you navigate the complexities of cyber security and grow your career with confidence.

Now, you might be wondering, especially for those based in the US, why should I care about this EU regulation? Well, NIS2 doesn’t just impact EU-based companies. If your organization operates in Europe, provides services like cloud computing to companies in Europe, runs online marketplaces, or is part of a global supply chain that touches Europe, the regulations could directly affect you or the organizations you work with or for.

In the UK, organizations are guided by the National Cyber Security Centre (NCSC) and their Cyber Assessment Framework (CAF), but they are not required to be assessed against NIS2. However, as I mentioned, if you have any sort of relationship with Europe, NIS2 could still impact you. Even for those not directly involved with Europe, NIS2 could influence future regulations in the US and other regions. So, it’s important to understand, or at least get a little overview, of what’s coming up.

NIS2 significantly expands on the original NIS directive from 2016. It increases the scope to include not just essential sectors like energy, transport, and healthcare, but also digital services, food production, postal services, and more. This means a much broader range of organizations—including those based outside of the EU but operating with European entities—will need to comply.

The penalties for non-compliance are steep, with fines of up to 10 million euros or 2% of global turnover, making it a serious financial and operational risk for businesses globally. The deadline is fast approaching, so organizations need to start preparing now to ensure compliance by October 2024.

For those working in cyber security or looking to get into the field, NIS2 presents both challenges and opportunities. Let’s break down some of the key reasons why it might matter to you.

Stricter Security Requirements

NIS2 increases the security standards organizations must meet, requiring more proactive measures to mitigate cyber threats. This creates demand for cyber security professionals who can implement these controls and incident response strategies.

Supply Chain Security

Another significant change is the emphasis on supply chain security. If you’re in a sector that interacts with European businesses, you’ll need to ensure that not just your systems but those of your suppliers are compliant. This presents opportunities for professionals focused on third-party risk management.

Governance and Accountability

NIS2 also holds senior management personally accountable for cyber security failures. For those aspiring to leadership roles, understanding this shift in responsibility is key, as cyber security is now considered a top-level business priority.

Key Elements of NIS2 Compliance

Here are some key areas organizations need to focus on under NIS2:

• Incident Reporting: Significant cyber security incidents must be reported within 24 hours. This tight window requires well-prepared response teams, including PR teams, ready to act. Even organizations that are not required to conform to this should be prepared for swift incident response.
• Increased Penalties: As mentioned earlier, the fines for non-compliance can be up to 10 million euros or 2% of global revenue. This means non-compliance isn’t just a security risk—it’s a serious financial liability.
• Cross-Border Cooperation: NIS2 encourages cross-border collaboration in dealing with large-scale cyber incidents. If you work for an international organization, you’ll need to navigate the complexities of working across different regulatory environments and jurisdictions.

What Does This Mean for Your Cyber Security Career?

If you’re already in cyber security or looking to enter the field, NIS2 represents an opportunity to specialize in areas like compliance, risk management, supply chain security, and incident response. These regulations are expanding globally, and many regions will require similar controls.

Organizations will need trained professionals to help meet these new requirements, meaning there’s a growing demand for experts who can manage compliance. At StationX, we review trends in cyber security annually, focusing on how to future-proof your career. Compliance is on the rise, and any role involving regulations will be in demand, making it a solid career path.

For those looking to enter the field, understanding NIS2 or similar regulations can give you a competitive advantage. The need for risk management specialists, compliance officers, and cyber security analysts will only grow as more companies seek to meet the stringent demands of NIS2 and other similar regulations.

Steps for NIS2 Compliance

If you’re thinking about how to check if an entity is NIS2 compliant, here’s a structured approach to follow:

1. Assess Whether the Organization is In Scope: Determine whether your organization is classified as an essential or important entity under NIS2. This includes sectors like healthcare, energy, transportation, finance, and digital services.
2. Perform a Gap Analysis: Compare your current cyber security policies, procedures, tools, and controls against the NIS2 requirements. This involves:
• Reviewing NIS2 key requirements, especially around incident reporting, risk management, supply chain security, and governance.
• Evaluating existing systems, controls, policies, and personnel involved in cyber security.
• Identifying gaps where your organization does not meet the NIS2 requirements.
3. Create a Plan of Action:
• Prioritize gaps based on risk and impact.
• Set timelines for closing those gaps and allocate necessary resources.
• Implement new technologies, update policies, and ensure staff, including senior management, are trained on NIS2 compliance.
4. Continuous Monitoring and Audits: Once gaps are closed, regularly review and update your policies and systems to maintain compliance, particularly as new threats emerge. Conduct regular internal audits to ensure ongoing alignment with NIS2 requirements.

Conclusion

NIS2 is a game changer, especially for Europe, but its impact will go beyond the EU, affecting global businesses and creating new opportunities for cyber security professionals. With the October 17, 2024 deadline, now is the time to prepare and ensure compliance.

If you’re interested in leveraging NIS2 to advance your career, take the time to learn the standard and get ahead of the curve. And if you’re looking to start or grow your career in cyber security, head over to StationX.net. We have resources that can help you fast-track your success.

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