On October 16th, an event dedicated to "Governance, Risk, and Compliance (GRC) in Cybersecurity" was successfully held, organized by the Association of Cybersecurity Organizations of Azerbaijan (ACOA) in partnership with Cybersign. The event was attended by responsible representatives from government and private sector entities, as well as cybersecurity service providers who are members of ACA. The primary aim of the event was to present modern approaches in the GRC field and facilitate mutual experience sharing.
During the event, ACOA Chairman Panah Musayev delivered the opening speech, emphasizing that the main strategic role of GRC is to foster risk-based thinking and steer resources toward measurable risk values instead of intuitive ones. He highlighted that this shift marks a move from a reactive to a proactive GRC model.
Elvin Balajanov from the National Cybersecurity Center of the State Security Service discussed the management, risks, and compliance standards outlined by legislation concerning the security of critical information infrastructure, emphasizing the importance of applying these standards. He also pointed out the significance of regularly identifying and assessing security risks in critical infrastructure and incorporating the financial impact of these risks into management processes. Additionally, Elshad Zalov from the State Service for Special Communications and Information Security provided insights into the initiatives undertaken by his department.
Following this, representatives from Kapital Bank, Kamran Karimov and Murad Shafiyev, delivered an educational presentation on GRC.
ACOA's Executive Director, Rauf Jabarov, addressed the event, urging member companies to implement modern GRC standards within their organizations. He stressed that companies must meet existing legislative requirements to respond effectively to international challenges. The importance of ISO standard certification for service providers was also underlined. Subsequently, Samir Novruzlu, Chairman of the Quality Association, shared information about important standards related to information technology and cybersecurity, as well as the certification process.
The event also included information about joint initiatives by ACOA and the Quality Association to support the certification of cybersecurity companies. Samir Hamidov, head of the European Bank for Reconstruction and Development (EBRD) Small Business Advisory Program in Azerbaijan, discussed the potential financial support available to small and medium-sized enterprises within the framework of this program. He noted that SMEs could receive grant support for consulting and certification services under different standards through the EBRD.
Representatives from Cybersign, Elvin Akhundov and Elgun Bakhtiyaroglu, presented their cybersecurity products and discussed their positive impact on training human resources in organizations. The event concluded with engaging discussions among participants.
