Governance risk compliance and the effective use of resources and sharing of vital information has become a key discipline for organisations during the last decade due to market globalisation and the increase in regulations and data storage.
Managing business-wide security operations is practically impossible to undertake with a silo approach in the digital age as the duplication of tasks impacts negatively on operational costs and GRC metrics such as risk assessment and the value of security initiatives and investments. Large organisations in sectors such as data and analytics are now replacing disparate governance functions with a suite of integrated services provided by specialists such as Oracle. These programs, which can be tailored to each organisation's specific requirements, streamline the GRC process and offer regulatory compliance and controls in addition to supporting risk analysis and treatment.
Data security and security intelligence are the buzzwords for all large organisations in 2014 as the rise in connected mobile devices has led to an exponential rise in the number of breaches and attacks from outside sources. Organisations are also now aware that firewalls and point solutions will now not suffice with data governance and risk management taking centre stage in the ongoing battle to remain a step ahead of the daily developments that threaten business continuity. Information GRC software is valuable in this sense as it puts measures in place to reduce the possibility of high impact risk events and offers an instant response to threat level changes.
Cryptography and public key infrastructures (PKI) are an industry standard approach to security implementation and an important aspect of GRC strategies for large organisations. PKI provides authentication, encryption and non-repudiation elements, which create a secure environment for electronic transactions on any network. This approach is scalable and ensures that any information cannot be tampered with, a critical requirement for modern businesses due to government regulations that state that all sensitive data must be protected and kept confidential. Computer technology corporations such as Oracle provide the security tools to do this while determining legal and regulatory compliance constraints.
Insider threats are another important aspect of risk management; the impact of a former employee who has misused an organisation’s data or network can be substantial as it affects the integrity and confidentiality of the systems currently in place. Assessing threat vulnerabilities is now seen as a common practice for large organisations as it is vital to sort out management and behavioural issues in addition to amending technical issues and business process gaps.
This article was written by John Winfield, Consultant - Information Security, for more information please contact John on: +44 (0)20 7014 0230 or send an email to firstname.lastname@example.org
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