Risk vs Compliance: How to Get the Best of Both Worlds
IT teams play an extremely important role in mitigating organizational risks and keeping the workforce abreast of modern technological advancements. However, most IT departments rely on control-compliance models to mitigate business security. Some company departments prioritize risk over compliance models and vice versa, which has recently led to a risk vs compliance debate. This disengagement can often limit the ability of IT professionals to accurately define the business risks to their organizations. In her article for the CIO, Rachel Curran talks about the risk vs compliance concept and how you can incorporate both of them for optimal security in your business.
Analyzing Risk vs Compliance
Why Compliance Is Essential
Control compliance allows you to focus on the low-level control deficiencies that are often overlooked due to prioritized high-level organization security concerns. Hackers usually get into systems through an unpatched system or avoidable configuration error. Control compliance allows you to understand the business models in depth. It will minimize the possibility of technical vulnerability in the long term and will also help you avoid unnecessary business threats within a specific timeframe.
Benefits of Risk Management
Risk management encompasses the broader aspect of an organization and does not restrict risk management to only the IT department. Curran mentions that one of the crucial advantages of a risk management framework is that it provides information in business terms. It allows stakeholders and investors to understand risk management processes proficiently.
Integrating Risk vs Compliance Setup
It is better to find a balance between risk management and compliance frameworks. Employ a technology risk manager to manage IT risks and an information security governance manager to oversee governance security controls. You should understand that information security is one of the major concerns of the IT sector. The security team responsible for compliance should handle security-related tasks and put all information in the RCSA document.
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