Compliance demands on enterprises are rapidly increasing, and so are the risks and adverse impacts associated with failing to meet these demands. Technology innovation and related transformation initiatives are resulting in a need for enterprises to pursue, achieve and maintain compliance with one or more industry or government mandates, statutes and regulations that touch IT (particularly regarding the security and privacy of data). Examples include FFIEC Guidelines, ISO-27001, ISO-22301, CFTC, DoD/RMF, NIST 800-171, GDPR, CCPA, PCI-DSS, HIPAA/HITECH, HITRUST, SOC, MARS-E, to name a few. Enterprises operating within the financial services, healthcare, futures trading, cloud/technology and consumer business industries, or the US state/federal government are more than likely to come across a mandate, statute and regulation requiring them pursue compliance with one or more of these security and privacy requirements.  

 

Some of the challenges that enterprises face in this space include the lack of and an enterprise view on compliance obligations, or the lack of internal knowhow/expertise in pursuing and sustaining compliance. Other challenges include the employment of reactive (check-the-box) approaches that are unsustainable and fail to yield the desired data protection required by these mandates. The poor integration of compliance obligations with business/operational obligations also results in increased operating costs for enterprises. Some enterprises also find themselves inundated with multiple compliance assessment cycles, and little progress with proper data protection remediation and sustainment efforts. 

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The net adverse business impact from these issues for enterprises include steep regulatory penalties/fines, reduced revenue, law suits, loss of market share, weakened brands and loss of public trust/confidence. Other adverse business impacts include the potential revocation of operating licenses/authority to operate, business dissolution, employee turnover  or executive incarceration.   

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Our compliance advisory services are designed to help enterprises specifically overcome these challenges and adverse business impacts. We help our clients design, develop and implement/operationalize enterprise programs that account for applicable strategic, technical and non-technical requirements necessary to achieve and sustain compliance with applicable mandates, statutes and regulations for the long term. We apply relevant components of our compliance methodology and approach to help our clients remediate compliance gaps/risks and empower them to self-manage their compliance obligations through effective knowledge transfer.