Compliance Risk

Compliance cannot be accomplished by the Compliance department alone. The role of the department is to work with both the internal Security and Privacy professionals to educate the individuals of the entity regarding what issues are most important; design procedures with the input of each department to address compliance issues; communicate how effectiveness will be measured; and perform audits to make sure compliance procedures are being followed.

PCDS facilitates such collaboration in our compliance, privacy and security round table sessions. PCDS offers an environment for business executives and stakeholders to meet together to measure ongoing compliance efforts and creating roadmap for updating or refining a compliance program. PCDS brings all the three disciplines – Compliance, Privacy and Data Security together.

  • Have we identified all the regulatory requirements and their enforcement bodies?
  • Do we have a Compliance program and the required resources to address compliance issues?
  • What is considered non-compliance?
  • What is the cost of non-compliance?
  • Do we need administrative, technical and physical Security solutions to achieve compliance?
  • Are the privacy rights of our customers considered compliance obligations?

Sum of Risk = (Privacy Risk + Compliance Risk + Security Risk)