Data Protection

The General Data Protection Act (GDPR) and the Data Protection Act (DPA) 2018 have changed the world of Data Protection providing Data Subjects’ with increased rights. The GDPR emphasises transparency, security and accountability whilst providing greater requirements on entities that act in the role of Data Controllers and/or Data Processors.

Data Risk Solutions can support through:

  • Providing an independent assessment of your Data Protection policies and processes – A GDPR Implementation Review
  • Help create GDPR compliant documentation that adhere to the principles of the GDPR
  • Develop and help implement a Target Operating Model that allows on-going compliance with key data protection processes such as Breach reporting.
  • Provide guidance on upcoming Data Protection regulatory changes, e.g. eprivacy Directive.
Service

Data Governance

Every organisation has vast amounts of data that is used in many different ways internally but also by external parties. This information will include data that is commercially, financially and customer sensitive. This information has to be managed through appropriately designed and implemented data governance controls to protect the organisation but most importantly its customers.

 

Data Risk Solutions are able to advise on:

  • Data Governance Frameworks – aligned to regulatory standards and good practice.
  • Aligning Data Governance Frameworks to your Data Strategy, Policies and Principles.
  • Designing and Implementing Data Controls across your architecture.
  • Managing governance forums.

Regulatory Compliance

Our Financial Services industry is regulated to protect the interests of customers, investors, shareholders and many other parties. Our team have experience of delivering data management engagements in support of FATCA, Solvency II, General Data Protection Regulation (GDPR) to name just a few. All these regulations require organisations to understand their data landscape and Data Risk Solutions can:

  • Quickly design a holistic view of your data landscape; identifying systems that are material, hold sensitive data and pose the highest level of risk to your organisation in complying with regulatory requirements.
  • Document the controls that are implemented across your data landscape.
  • Assess the quality of information within material systems and perform a gap analysis against regulatory requirements and any internal standards.
  • As a trusted advisor; support discussions with regulatory bodies.

Over and above all this, we are also able to support you with the small matter of ‘Brexit’ and how the ‘Great Appeal Act’ may impact your data systems.

Data Quality

We now obtain and store more data about our customers and products than ever and this data is of huge value to any organisation in driving strategic direction, making the correct investment decisions and ensuring customers are treated fairly. However, for this data to be of use in the form of Information, it has to be of sufficient quality. Data quality is one of the hottest regulatory topics as external stakeholders want organisations to demonstrate that information they collect is fit for purpose. Data Risk Solutions has over 10 years of experience in:

  • Developing data quality frameworks.
  • Managing data quality assessments.
  • Supporting large data remediation programmes.
  • Producing data quality dashboards for discussions with Senior Executives and Regulators.