Key Roles and Responsibilities in Data Governance
Organizations must comply with various regulations and standards governing data usage, such as GDPR, HIPAA, and others. This is why you need to understand the roles and responsibilities in data governance to help ensure compliance. No one puts the definition of data governance more aptly than Mike Ferguson, Intelligent Business Strategies – “Data governance is…
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Jul 23, 2024
Top Compliance Metrics to Monitor and Improve
“Compliance effectiveness and the value of compliance are tough to measure. That’s unfortunate because regulators want to see that sound compliance policies are in place and efforts are being made to track their effectiveness. If the regulators are finding compliance problems, then there may be a breakdown somewhere in the first, second or third lines…
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Jul 23, 2024
Proactive Risk Management Vs Reactive [How to Implement It]
In September 2017, Equifax, one of the largest credit reporting agencies, reported a data breach. Sensitive personal data of 147 million people, such as Social Security numbers, birth dates, addresses, driver’s license numbers, and credit card information, was exposed. Investigations pinpointed the incident to a failure to address a known vulnerability in their web application…
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Jul 22, 2024
How To Develop An Effective GRC Strategy?
At the 2022 MetricStream GRC Summit, Michael Rasmussen illustrated the interconnectedness of business risks using a “forest and trees” analogy. Imagine the complex business environment as a forest. Understanding how each tree (or risk) fits into the bigger picture is important because a minor vulnerability can escalate and set the entire forest ablaze. In other…
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Jul 22, 2024
Data Governance Maturity models: Which one to choose?
According to a recent study, about 60% of Chief Development Officers are said to prioritize data governance in 2024 because of the return on investment they receive. The benefits include increased funding, opportunity generation, and enhanced security. In fact, many organizations are now shifting data governance left, which involves early testing of data and ensuring…
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Jul 22, 2024
Governance Vs Compliance: Similarities, Differences and Common Misconceptions
When viewed from the outside, it is easy to misinterpret the results from compliance as indicators of good governance. For example, a partner might assume that passing a compliance audit signifies good leadership, a security-first culture, and a proactive approach to risk management. However, the company may have achieved compliance using a reactive approach and…
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Jul 22, 2024