Hi! My name is John.
As a finance professional, I understand how difficult the compliance journey can be for financial organizations. As regulators place greater scrutiny on third-party vendors, particularly cloud providers, security and compliance become the responsibility of the entire organization, not just the IT department.
So, how can you ensure that your financial organization is meeting all regulatory guidelines as you continue your compliance journey? Well, the best way to ensure this is to adopt a solution that will make it easier to complete your compliance journey. When looking for a solution to adopt for your compliance journey, look for a solution that offers:
Compliance Risk Assessment and Management
It’s important to adopt a solution that can manage your compliance risk through real-time assessments of your compliance posture with actionable insights to improve your data protection. Without a solution that can assess and manage your compliance risk, you put your entire compliance journey in jeopardy.
Since data is very important to the livelihood of your company, it’s important to adopt a solution that can use advanced data governance tools to protect sensitive company, employee, and customer data across devices and apps, no matter where it travels. As more and more technology makes performing job functions away from the office much easier, it’s essential to adopt a solution that can handle multiple tools and data entry points.
Streamlining of Processes
Any solution you adopt to help you with your compliance journey should also offer access to audit-ready tools that help you streamline your reporting process for requirements such as notifying authorities of personal data breaches, obtaining appropriate consents for processing data, and maintaining detailed internal records of processing activities. Your solution should also allow you to collaborate between teams to ensure all necessary steps are completed.
Adopting the best solution to help you successfully complete your compliance journey is essential to ensure that your company meets all compliance laws and regulations. Without a proper solution, your company could face serious negative consequences.
If you want to learn more about how a good solution can support the compliance journey of financial organizations, click the link below for more information.