Praxis Data Security’s Maria Scarmardo joins Host Larry Kortkamp to discuss the role of a risk officer in a small business on Biz Pointz TV. Many local companies struggle to keep up with technology and data compliance required today. A risk officer works with the technology person or department to understand scenarios at play that may need attention, and develops a plan of action that works with the budget and level of service they want to implement.
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Each company should decide what their priorities are, and what level of risk they are willing to expose their company to. For more advanced security protocols, an enhanced level of response may be necessary. For others, understanding the roles and workflow of a company offers strategic opportunities.
For example, if something happens to your data and you are shut down for 3 days, can you afford to deal with that? How much is that worth to you? That expense should be considered when deciding how much it will cost to mitigate that risk. Chances are, it’s far more cost-effective to work through worse case scenarios and step up your game before you have to go back and fix it.
Also, consider what happens to the data in your company. This is where compliance comes in. Governance, risk management throughout your business, considers anything that would be a detriment to a company financially and also on the reputation side.
Consumer Privacy Acts are coming down the pipe in every state across the nation. Identifiable information is protected, and you need to know how to respond that proves you have done your due diligence to protect that data.
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