Now that some of the heat has died down on this topic, I thought it would be a good time to discuss observations about GDPR from an ERM perspective.
Last month, the General Data Privacy Regulation from the EU was a hot topic. You undoubtedly received emails from your subscriptions and apps explaining that new privacy policies were going into effect. If you’re based in the EU, any websites you subscribe to required you to provide your direct consent in order to remain on their list(s). In fact, your inboxes were probably flooded with emails!
Since there are mountains of stories out there on GDPR, I don’t want to spend much time talking about what it is. You can go here to learn about that…
Instead, I want to talk about how the preparation for something like GDPR can quickly expose interdependencies within an organization.
However, for bigger organizations, the issue of data privacy and GDPR compliance ended up being way more complex.
Despite having two years to prepare, most companies, including mine, worked feverishly ahead of the May 25th deadline… 40% of companies are still behind schedule on their GDPR compliance according to a recent study.
Many organizations are struggling to comply with GDPR because they soon realized the interdependency of how data is stored, accessed, and transmitted.
For example, a company may only consider data on its core servers, but as you know, a large number of employees use personal smartphones, tablets, and laptops to access data. And while using personal devices for company business continues to grow, only 40% of these devices are regulated.
This opens up all kinds of questions when it comes to data security and GDPR that many companies are only beginning to get their head around.
Customer data isn’t something that just sits on a server, but rather the data bounces around your networks between devices. One lost, stolen, or compromised device can put sensitive information at risk, and open the organization to fines, a damaged reputation, and more.
(Click here to learn more about ways to better understand and quantify reputation risk.)
Therefore, when preparing for something like GDPR (…or any type of project for that matter), it’s important that you don’t look at it as a step-by-step, 1-2-3-4 process that occurs in one silo.
Instead, take a step back and think about different elements in your project and how they interrelate with other parts of your organization.
Don’t make the mistake of thinking a project is a linear process with a straight path to success. Instead, consider how a crazy flowchart looks and how progress in one area is dependent on progress in another.
If you just jump head first into a project like GDPR compliance or something else, you open up the risk of not meeting your goals because you’re too busy trying to put out fires.
Being proactive and considering the interdependency of risks and processes is a key part of what makes ERM what it is.
Have you ever started working on a project just to later find out its connection throughout the organization?
How did this affect your timeline or goals for the project?
I invite you to share your story below or join the conversation on LinkedIn.
If you’re struggling to see the interdependencies within your organization and its holding you back from accomplishing your goals, I invite you to contact me today to discuss your unique situation.
Sign Up For Our Newsletter
Sign Up For Our Newsletter
Helping companies achieve their vision and strategy, and succeeding in today's turbulent world, is something I'm honored to be a part of. Whether you're an occasional blog visitor or a long-term client, thank you for letting us be a part of your journey.
Most Recent Posts
Without a doubt, one of my family’s favorite holidays is Christmas. Part of the fun, especially for our son, is seeing what “Santa” brought, but most importantly, we treasure the spirit of peace and goodwill the season brings. And after what seemed to be a never-ending warm spell, the weather is expected to be good…Read More
As the end of the year draws near, I think we’d all agree that while it wasn’t without its challenges, this year also wasn’t quite as turbulent as the previous two. While a lot of people are juggling company parties, shopping for friends and family, and special activities for the kids, most companies are putting…Read More
Strategic planning is a challenge – of all people, I understand… After all the meetings, risk and data analysis, and brainstorming of the preceding months, it’s tempting to think this is the end of the road and you can relax. Contrary to this common perception though, this is exactly not the time to relax, but…Read More
Be honest – have you ever done something that you soon realized was a real rookie mistake? Me raising my hand… Considering the nature of ERM’s role to ask questions and challenge assumptions (often during conversations with executives), it can be argued that, in at least some cases, the expectations bar for risk professionals is…Read More
On occasion, I like to take some of the concepts we risk professionals think about in our jobs and apply them to different personal situations…take some of the same concepts we use when working with executives to develop corporate strategy and manage risks or uncertainty around that strategy. It’s Thanksgiving week in the U.S. –…Read More
Periodically, I have the pleasure of speaking one-on-one with Hans Læssøe on a variety of topics around ERM, strategic risk, and other issues and trends. As you know from my previous conversations (here, here) and posts featuring his work, Hans was formerly a practitioner at the iconic LEGO Company, but even more notably, is a…Read More
Everyone likes a clear-cut template that offers an easy way to create or manage something…I mean what’s not to like about a step-by-step process for accomplishing what you want? Sometimes this can work without any issues, such as the case with the Project Management Book of Knowledge (PMBOK), ISO 9001 standard, or a new cooking…Read More
One thing I was taught to appreciate from a young age was the value of education and knowledge. It didn’t necessarily matter what the subject was, just that I always maintain a learning or growth mindset regardless of my current status in life. This mindset has served me well over the years, and it’s a…Read More
It’s amazing how technology has developed and changed our working world over time. Imagine trying to run my risk and strategy consulting firm without tools like Zoom, Box, Slack, and other ERM-specific technology tools. There is no way we would be able to serve our clients the way that we do. Just consider how the…Read More
If you’ve been handed the task of creating an ERM program for your organization, let me first offer my congratulations quickly followed by my empathy for the task ahead of you. I don’t say that to scare you but to provide a small dose of reality. Building, launching, and refining an ERM program that is…Read More