Directors are responsible for data risk management and fulfilling their duties of skill, care and diligence to avoid damages that could be brought against their organisation that may result in losses and data breaches.
The new GDPR regulations place extensive legal responsibilities for effective data management and governance requirements with company directors, the associated risks for non-compliance must therefore be addressed at board level, as board members will be expected to demonstrate accountability, compliance and transparency where data management is concerned, which will only lead to strengthen existing relationships.
As part of good corporate governance directors must be seen to be supporting the sharing of information, decision making and risk management that places their organisation in a position of strength to effectively manage corporate reputation, stakeholder relationships, the winning of new business, maintaining customers and ensuring supplier relationships are mutually beneficial.
Sound corporate governance and director accountability with regards to GDPR compliance provide the opportunity to bolster trust through robust and transparent data protection activities that will nurture, generate and grow profitable business, so preparing now to get it right for when GDPR comes about in May 2018 will benefit organisations enormously.
For further practical advice and our CEO Whitepaper – An executive summary, sign-up to Gravicus Osprey to gain access to data management tools and our Resource Centre.
Telephone: 0203 858 0636
Simple and smart data management