Knowing Your Compliance Risks: Risk Analysis and Management
There is an element of risk to almost everything we do in life. Unless we are prepared to take a risk, there can be no reward. One of the risks that organizations face today is compliance risks. There are numerous privacy laws, business requirements, and customer expectations that have been placed on companies mainly due to the failures of others. If compliance requirements are not followed, organizations are at risk of non-compliance which can result in fines or loss of business from potential or existing customers. How many customers today ask you: Are you PCI Compliant? Do you focus your time and budget on the "popular" compliance requirements or are you able to focus on other areas of risk within your business? Has Compliance just taken over? In order to be successful in almost any line of business, organizations must balance business risk, compliance requirements, and reward through the process of risk management and analysis. This requires organizations to identify and prioritize their risks and then analyze the likelihood of that risk occurring. In the end this recipe of risk analysis and risk management can help people sleep at night.
- Presenting
- Jeramy Cooper-Leavit, Orbitz World Wide, Director of Compliance
- Channel
- Governance, Risk, and Compliance
- Date
- Jan 26 2010
- Duration
- 2395
- Tags
- Compliance, Risk Analysis, Risk Management
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