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How can business balance GRC management with consumer risk protection?

What GRC management best practices can keep business data compliant while reducing consumer risk? Discuss with us during #GRCChat March 26 at 12 p.m. EST.

It's no secret that the digital age has forced big changes to corporate risk and compliance processes -- and that...

many companies are having difficulty adapting. In 2014, multi-billion dollar regulatory settlements by top banks became commonplace, while there was a record number of reported data breaches in the U.S. A recent Forrester Research report predicted that in 2015, there will be more corporate failures to address regulatory enforcement and consumer risks than the previous year, with even bigger financial losses.

Join SearchCompliance on Twitter Thursday, March 26, at 12 p.m. EST, for a #GRCChat about how companies can balance business GRC management with consumer risk abatement in the digital age. Topics we may discuss include best practices to avoid both regulatory and consumer risk, the compliance risks created by customer-centric technology and whether corporate compliance regulations provide enough incentive for business to improve data protection.

SearchCompliance editors will lead the chat from the site's Twitter handle, @ITCompliance, joined by other TechTarget writers, editors and experts.


Date: Thursday, March 26, 2015

Time: 12 p.m. EST

Host: @ITCompliance

Hashtag: Use and follow #GRCchat

Is this your first #GRCchat? Whether you're a first-timer or returning tweet chatter, read the following pointers before signing on:

To follow the conversation, type "#GRCchat" into Twitter's search bar. From this page, select "All" to view tweets in real time.

Your first #GRCchat tweet should be introductory, including your name, title and organization.

@ITCompliance will ask a series of questions related to GRC management, starting at 12 p.m. EDT (Q1, Q2, etc.). In your tweeted responses to each question, please preface with A1 (Answer 1), A2 and so on, then remember to include "#GRCchat." Each tweet sent during the chat should include the hashtag.

Please note that Twitter allows only 140 characters per tweet. You are welcome to tweet multiple responses to each question (consider using format "1 of 2" or "1/2" to identify there is more)

Throughout the discussion, retweet (RT) and favorite tweets you agree with and reply to those you don't.

Please direct questions, RSVPs or other concerns to SearchCompliance Editor Ben Cole. See you on Twitter!

Next Steps

Learn more about how the current compliance landscape is influencing company processes, and how companies are starting to invest in digital technology to meet consumer demand.

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How has the rise of consumer-centric technology use for business gain complicated companies' GRC management processes?
Not as much as some people like to pretend. Technology has seen explosive growth over the last few decades, and smarter businesses have kept in mind that things are going to keep changing. We've planned accordingly, and at times, we've even changed our GRC setup in order to account for these new variables.

My company has a meeting when a major change is introduced, and we change whatever is necessary to keep our GRC going.
I think that is key, to stay ahead of these rapidly evolving technology changes. As tech such as wearables gain popularity, smart companies will stay ahead of the game and anticipate how they will impact business processes - both positively and negatively. By staying proactive companies can reap the business benefits of advancing consumer tech, such as improved employee productivity and satisfaction, while minimizing the inevitable data protection/privacy headaches that stem from their use in the business setting.