Is your data privacy program effective?
Modern analytics tools allow enormous volumes of data to be aggregated and the risks related to its potential misuse, improper handling or unauthorized disclosure are greater than ever. Recognizing these threats, legislators and regulators around the world are enacting increasingly stringent data privacy requirements. In response, organizations have rushed to implement data governance and privacy initiatives, however the efficacy of many of these programs remain untested.
With the risk of fines looming, organizations should proactively monitor their privacy programs on an ongoing basis. Here are a few best-practices we highly recommend you consider including within your own organization’s comprehensive monitoring program:
Measurement. The first step in evaluating the performance of your program is defining how to objectively measure its effectiveness in achieving desired outcomes. While the objective of being fully compliant seems totally rational, it can be difficult to evaluate without defined performance indicators. This is particularly true where a newly implemented regulation has not been tested in court. Defining your program’s performance metrics assists in determining key success factors.
Monitoring & Analysis. Ongoing monitoring and evaluation of high-risk processes and controls is highly recommended when new programs and processes are established to ensure issues are identified and appropriately addressed quickly. Focus on areas with high risk of non-conformance to help allocate resources accordingly. Automated monitoring of metrics helps address risks overhead
Management Review. Management should consider formal reviews of the organization’s privacy program, at planned intervals, to ensure its continuing adequacy, effectiveness and alignment with the organization’s strategic direction.