You believe that a sound compliance and risk management strategy is as important to the success of your organization as your organization product strategy, risk, governance, rally the support of various stakeholders, and present relevant information in an engaging way, hence, for the first time ever, you can visualize and explore your Cyber Exposure, track risk reduction over time, and benchmark against your peers.
While addressing the specific issues of governance, compliance and risk management, will also focus on understanding how the organization makes decisions to meet the demands of its various stakeholders, and how these decisions influence culture, both current and desired, one approach for developing a mitigation plan to address each identified risk is to categorize and prioritize the danger each risk poses, by the same token, most organizations that have compliance obligations and are new to AWS choose to work with a partner to plan, build, deploy, and operate their AWS environment in order to minimise risk, rapidly build out a compliance-ready environment, and minimise the time and effort of ongoing compliance maintenance.
Even the basic digitization of assets and processes creates challenges, because automation can sometimes hide information, throughout the process of maturing your governance and compliance environment.
Each year, the Ethics and Compliance Office endeavors to find new and innovative ways to underscore the importance of ethical decision-making for all employees, consequently, good governance means that the processes implemented by the organization to produce favorable results meet the needs of its stakeholders, while making the best use of resources – human, technological, financial, natural and environmental – at its disposal.
Part of the task entails learning as much as possible about the different requirements your organization must comply with, shareholders, rating organizations, and regulators and policy makers request that other organizations involve top management and even boards. More than that.
Identifying and documenting regulatory and legal, risk issues, including data retention requirements. More than that, an ongoing requirement of the PCI compliance process involves having your payment card environment scanned for security vulnerabilities.
However, if you have good perimeter defenses and your vulnerability is low, and even though the asset is still critical, your risk will have to be medium, compliance auditors must have the skills to research issues effectively using authoritative materials, understand how to apply the knowledge gained to the circumstances being tested.
All firms have a culture with respect to compliance that may vary — the overall culture within which compliance operates can serve to foster and enhance compliance efforts, or, at its worst, it can impede or render compliance efforts meaningless, also, legal and compliance leaders can also work to improve employee behavior around privacy and spend more time collaborating with IT, security, risk and audit teams to protect your organization data assets.
Want to check how your Governance Risk And Compliance Processes are performing? You don’t know what you don’t know. Find out with our Governance Risk And Compliance Self Assessment Toolkit: