‘Privacy by design’ and ‘consent management’ are complex issues so we plan to shine a light on these first by organising a webinar to discuss what it means and to demonstrate tools and approaches that address these issues. Then a seminar in London on 14th November consisting of technical and legal experts together with senior representatives from privacy and governance functions in banks, insurers and investment firms.
Every significant country or region is overhauling its laws for privacy and security, GDPR in Europe is an example of a fundamental redrawing of citizen’s rights and regulator’s powers. Effective management of consent is a cornerstone of GDPR. Failure to do so falls into the highest categories of penalties of up to 4% of global annual turnover. Organisations must adapt their culture, systems, processes, contracts, accountabilities and governance to ensure effective compliance.
There are numerous other examples. Only last week New York State Dept of Financial Services released its Cybersecurity Regulation, covering information security, data governance and customer data privacy. The Cybersecurity Responsibility and Accountability Act of 2016 is another example currently working its way through the US Congress.
Since 2007, the finance sector has had multiple waves of regulation regarding tax, AML/KYC, trading, fraud, conduct and so on. Countless BILLIONS OF DOLLARS have been spent on regulatory programmes. The result is ‘lost opportunity’ together with business processes, data systems and management structures that lack cohesion, are costly and prone to risk.
We can deal with the next wave of privacy and security regulations by learning from the past and each other. If we have clarity on the true underlying issues then we can plan, develop capability and execute our plans with efficiency and purpose.
There is a lot to do and less than two years to do it for GDPR. We urgently need to convene people from privacy, governance, data management, risk and compliance. We want experts with real insight who can convert WHAT the regulation says into HOW we can make the necessary transformations in a joined-up, cohesive manner. Our target outcome is about becoming EFFICIENT as well as COMPLIANT.
Data is at the heart of your organisation. Nearly all the provisions of the new regulations relate to management of data. Your response to the challenges of the new privacy regimes lies in better management of the capture, flow, retention and disposal of data.
The Data Management Industry Forum for Privacy is the hub for industry professionals to share insights and discuss solutions to the challenges presented by GDPR.
The essence of the new regulations is that organisations should respect the privacy of citizens and provide transparency and evidence that they are doing so. Key features include:
A one hour webinar in which we will outline initial steps required to assess your starting position, the program process and showcase one way of addressing the customer facing issue of ‘Consent Management’ via an enterprise-scale data privacy and consent management system that helps organisations set and follow privacy policies and avoid violating the trust of their customers. Contents of the seminar include:
A morning seminar in which we will discuss in greater detail the issues and challenges around ‘privacy by design and consent management.’ We will have a broader range of presenters and panellists including Chief Privacy Officers, Data Governance Leads and Heads of Risk and Oversight. There will be opportunity for deep dives into consent management solutions and round table discussions and Q&A sessions to establish requirements and current best practice. Contents of the seminar include:
The world changes and we change or get left behind. Technologies, organisations, people and roles evolve in response to change.
The Forum is here to exchange ideas and create structure around best practice to facilitate change so that we achieve outcomes that are EFFICIENT as well as COMPLIANT. The Forum will continue to focus on the challenges facing the industry and facilitate the identification of gaps (in skills, knowledge and technology) and the presentation of solutions through intelligent, thoughtful discussion and debate involving contributors from a broad range of backgrounds.
To that end the Forum will continue to run periodic events and working groups around the following:
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