Is GRC Important in Your Data Protection Career Roadmap?

To ensure unauthorised use of personal data by organisations is prevented, data protection laws were introduced in many jurisdictions. To comply with the laws, organisations need to also have a data protection management programme (DPMP) in place so law requirements are integrated into their business practices.

Governance, Risk Management and Compliance (GRC) in a Nutshell

The meaning of GRC is governance, risk management, and compliance. It is a business strategy that’s designed to help organisations achieve regulatory compliance through effective risk management and governance. 

The OCEG defines GRC as an integrated suite of capabilities that helps organisations attain principled performance. Principled performance is the reliable achievement of objectives while acting with integrity and addressing uncertainty.

GRC and Data Protection Management Programmes

Most organisations in the digital economy won’t be able to function without personal data. That said, it’s not surprising that many jurisdictions will need a dedicated DPO. The data protection framework is designed to assess, protect, sustain, and respond to data breaches and risks.

It is also clear that the DPMP network is an operational manifestation of the learn, align, perform and review process of the GRC within the data protection field. For this reason, the management of risks in the DP and GRC are linked closely in many organisations.

The Importance of GRC to Organisations

The requirements and risks organisations face today are always evolving. This impacts the organisation’s operations one way or another. As a result of the changes, organisations need to realign their business objectives.

What Makes Up the GRC Framework

An organisation that wants to attain principled performance needs a number of integrated capabilities. This is important so they can communicate, manage, and track them as a single entity. A GRC capability model has the following key components:

  • Learn. Analyse and learn the internal, external and cultural contexts, including learning from stakeholders.
  • Align. Align performance, risk and compliance objectives, strategies, and decision-making actions, controls, and criteria with the context, stakeholder, and culture requirements.
  • Perform. Address opportunities, requirements, and threats by encouraging desired events and conduct and preventing what is undesired. This can be done through the application of detective, responsive, and proactive controls and actions.
  • Review. Conduct activities that improve and monitor the operating effectiveness and design of all controls and actions, including the continued alignment to strategies and objectives.

An organisation that constantly aligns, learns, and monitors its performance is on course to improve its performance significantly.

Why a Data Protection Officer (DPO) Should Go on the GRC Route

The Data Protection Officer (DPO) helps the organisation to manage the risks when processing personal data to ensure that they are in compliance with the new regulations. In the digital economy, data is the heart of almost every business. That said, managing data is a critical risk area that organisations need to be aware of in GRC.

Data protection compliance is also considered a microcosm of the organisation’s overall GRC strategy and it focuses on the protection of personal information. By embarking on the GRC route, data protection officers have the option to broaden their knowledge when it comes to governing personal data.

The Importance of Building Up Your GRC Competencies

Building up your GRC competencies by taking a GRC course is important in today’s digital economy. Since organisations are analysing and collecting massive amounts of data for different business purposes, data protection laws are constantly being enacted to ensure protection against the misuse of personal information the organisation has.

Also, with data protection regulations around the world, the demand for data protection expertise will continue to increase rapidly over the years.