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06.08.2020 Big names in business judge the second edition of the Malta Businesswoman of the Year Award FOR the second year run- ning, awards to recognise the achievements of women in business are being judged by an outstanding panel of leading business figures. The panel is comprised of Caroline Buhagiar Klass, Head of Human Resources and Corporate Sustainability at HSBC Malta (Chair of the panel); David Xuereb, Presi- dent at the Malta Chamber of Commerce; Giuliana Isolani, Country Manager at Nestlé Malta Limited; Simon De Ce- sare, CEO at the Eden Leisure Group and Susan Weenink Camilleri, Head of Sales and Marketing at Simonds Far- sons Cisk p.l.c. e second edition of the Malta Businesswoman of the Year Award (MBWYA) was launched in February by His Excellency the Presi- dent of Malta, George Vella. e Award, created with the support of HSBC Bank Mal- ta p.l.c., under the patronage of the President of Malta, is designed to promote and recognise women who have achieved significant success in business, and aims to inspire and empower women to reach their full potential. is year's edition of MB- WYA is being sponsored by HSBC, together with Farsons Group and Nestlé Malta Lim- ited. Applications were open to all female entrepreneurs and businesswomen operating in Malta and Gozo, and nomina- tions came to a close at noon on Wednesday 1 April 2020. e winners will be an- nounced exclusively at the MBWYA Awards Ceremony on 12 September 2020. More information is availa- ble on the dedicated website www.mbwya.com.mt I n an article published last week I out- lined the opportunities and benefits of technological advancements on the company secretary's profession and role. e second instalment of the article will focus on the risks and challenges brought about be emerging technologies and how these can be overcome. Technological advancements, whilst fostering innovation may also open the doors to cybercrime. Breaches of sen- sitive data through phishing attacks, scam emails and possibly also insider fraud are becoming more common due to lack of cyber training awareness and computer hygiene (e.g. encryption of sensitive data, firewalls, updating of software). e company secretary should be aware of the ever-increasing cyber related threats resulting from digitalisation in view of one's role as a custodian of a large volume of sensitive information and records. New technology impacts law-mak- ing and regulatory designs as these may become irrelevant if regulators do not consider such fast technological changes. e company secretary is to be constantly aware of any such poten- tial changes to law and regulations as a result of technological advancements and ensure that the organisation adapts accordingly. An innovative and a learning culture is another challenge which the company secretary has to face. It is important that the company secretary keeps abreast of digital skills by under- taking training through appropriate sources. e company secretary must also assist board members and other stakeholders to engage with the op- portunities provided by technological advancements and ensure that relevant training on the use of innovative IT systems is provided to board members. e increase in the use of instant messaging platforms, emails and group chat amongst others have put increase pressure on the company secretary for a quicker decision-making process. In addition, easier access of information and immediacy could result in addi- tional pressure and adversely impact the work-life balance of the company secretary's role. "Digital technologies promise flexibility in terms of when and how we work. But instead what they have done is to extend the "work- ing day" and created an unhealthy em- phasis on "multi-tasking" (Quote from: Erik P.M. Vermulen) In this regard, the company secretary should take on an advisory role to en- sure that the organisation has appro- priately evaluated its risk appetite and IT risk management systems when managing the demands of operating in a digital world. Furthermore, in- ternal controls and procedures should be in place to ensure that not only the company secretary, but all organisation staff are aware of the immediate steps to be taken in the event of a data breach and the responsibility to notify the reg- ulator as may be applicable by law. A robust data and business recovery plan need also to be in place to counteract the eventuality of a loss of data through breaches in information security gov- ernance. Steve Jobs once said that "technolo- gy is nothing. What's important is that you have faith in people., that they're basically good and smart, and if you give them tools, they'll do wonderful things with them." e company sec- retary cannot ignore technological ad- vancements as these offer innovative tools which do add value to the role. Moreover, automation offers a good opportunity to change the perception of the role from an administrative one to a more important advisory and tech- nical role for the benefit of the wider business of the organisation. Technological advancements and the company secretary (part 2) John Sammut John Sammut is Head of Internal Audit at the Malta Financial Services Authority The judging panel for the MBWYA: (from left) Caroline Buhagiar Klass, David Xuereb, Giuliana Isolani, Simon De Cesare and Susan Weenink Camilleri

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