Chief information security officer required for depositories to manage cybersecurity risks, controls and incident response. Every depository must appoint a chief information security officer responsible for assessing, identifying and mitigating cybersecurity risks and responding to incidents. The CISO must establish standards and controls, direct processes and procedures as per the board approved cybersecurity and cyber resilience policy, and oversee planning, development, maintenance, review and implementation of Information Security Policies and cyber security initiatives.