Kayne Anderson BDC, Inc. 10-K Cybersecurity GRC - 2024-02-29

Page last updated on April 11, 2024

Kayne Anderson BDC, Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-02-29 15:49:33 EST.

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10-K filed on 2024-02-29

Kayne Anderson BDC, Inc. filed an 10-K at 2024-02-29 15:49:33 EST
Accession Number: 0001213900-24-018465

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Item 1C. Cybersecurity.

ITEM 1C. CYBERSECURITY The Company s Board of Directors (the Board ) is responsible for overseeing the Company s risk management program and cybersecurity is a critical element of this program. Management is responsible for the day-to-day administration of the Company s risk management program and its cybersecurity policies, processes, and practices. The Company s cybersecurity policies, standards, processes, and practices are based on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards and are fully integrated into the Company s overall risk management processes. In general, the Company seeks to address material cybersecurity threats through a company-wide approach that addresses the confidentiality, integrity, and availability of the Company s information systems or the information that the Company collects and stores, by assessing, identifying and managing cybersecurity issues as they occur. Cybersecurity Risk Management and Strategy The Company s cybersecurity risk management strategy focuses on several areas: Identification and Reporting: The Company has implemented a comprehensive, cross-functional approach to assessing, identifying and managing material cybersecurity threats and incidents. The Company s program includes controls and procedures to properly identify, classify and escalate certain cybersecurity incidents to provide management visibility and obtain direction from management as to the public disclosure and reporting of material incidents in a timely manner. Technical Safeguards: The Company implements technical safeguards that are designed to protect the Company s information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality, and access controls, which are evaluated and improved through vulnerability assessments and cybersecurity threat intelligence, as well as assistance from third party experts where necessary. Incident Response and Recovery Planning: The Company has established and maintains comprehensive incident response, business continuity, and disaster recovery plans designed to address the Company s response to a cybersecurity incident. The Company conducts regular tabletop exercises to test these plans and ensure personnel are familiar with their roles in a response scenario. Third-Party Risk Management: The Company maintains a comprehensive, risk-based approach to identifying and overseeing material cybersecurity threats presented by third parties, including vendors, service providers, and other external users of the Company s systems, as well as the systems of third parties that could adversely impact our business in the event of a material cybersecurity incident affecting those third-party systems, including any outside consultants who advise on the Company s cybersecurity systems. Education and Awareness: The Company provides regular, mandatory training for all levels of employees regarding cybersecurity threats as a means to equip the Company s employees with effective tools to address cybersecurity threats, and to communicate the Company s evolving information security policies, standards, processes, and practices. The Company conducts periodic assessment and testing of the Company s policies, standards, processes, and practices in a manner intended to address cybersecurity threats and events. This includes penetration testing of network infrastructure and phishing tests targeting the Adviser s employees. The results of such assessments and reviews are evaluated by management and reported to the Board, and the Company adjusts its cybersecurity policies, standards, processes, and practices as necessary based on the information provided by these assessments and reviews. Governance The Board, in coordination with the Adviser, oversees the Company s risk management program, including the management of cybersecurity threats. The Board receives regular updates and reports on developments in the cybersecurity space, including risk management practices, recent developments, vulnerability assessments, third-party and independent reviews, the threat environment, and information security issues encountered by the Company . The Board also receives prompt and timely information regarding any cybersecurity risk that meets pre-established reporting thresholds, as well as ongoing updates regarding any such risk. On an annual basis, the Board and the Adviser discuss the Company s approach to overseeing cybersecurity threats. 61 The Adviser has established an internal working group that includes relevant representation from senior management including the CCO, CFO, and CISO, and CTO who work collaboratively to implement a program designed to protect the Company s information systems from cybersecurity threats and to promptly respond to any material cybersecurity incidents in accordance with the Company s incident response and recovery plans. Through ongoing communication with these teams, the CISO, CTO and senior management are informed about and monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time, and report such threats and incidents to the Board when appropriate. The CTO and CISO have served in various roles in information technology and information security for over 28 and 25 years respectively and hold relevant professional certifications. The Adviser s CCO and CFO, each hold undergraduate and graduate degrees in their respective fields, and each have over 15 and 28 years of experience managing risk at the Company and at similar companies, including assessing cybersecurity threats. Material Effects of Cybersecurity Incidents Risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected and are not reasonably likely to materially affect the Company, including its business strategy, results of operations, or financial condition.

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