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Find out why Strike Graph is the right choice for your organization. What can you expect?
Find out why Strike Graph is the right choice for your organization. What can you expect?
Compliance risk refers to the financial, legal, reputational, or business impact on an organization of any size or structure of not adhering to a set standards, laws, or frameworks. Most organizations think of risk in terms of a negative outcome. For example, in the context of information security, you could have a risk of financial fines and penalties by not complying with privacy regulations.
Compliance risk management is the collection of management processes that identify, assess, address, and monitor risks. A typical program will consider the impacts of risks to an organization that include:
Compliance risk can be broken down into the following high level categories:
Typically run by a risk officer or compliance manager, a strong risk management program will consider risks across the organization, including its assets. It will also incorporate both quantitative and qualitative measures, assign risk ownership, have a well defined risk treatment process, and continuously monitor risks. To implement a strong compliance risk management program, consider how and who will participate, how results will be reported, and how often risks will be reassessed.
There are a number of popular compliance frameworks. When it comes to IT and data security, the following should be top of mind:
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Find out why Strike Graph is the right choice for your organization. What can you expect?
Find out why Strike Graph is the right choice for your organization. What can you expect?