An influx of personal data collected by businesses puts businesses in a vulnerable situation. Lack of proper management of this data could result in fines if businesses are not measuring risk and establishing controls to mitigate potential risk. Furthermore, customers demand that their personal data be respected and managed with care. That’s why TrustArc built the Risk Profile.
Powered by the TrustArc Intelligence Engine, the Risk Profile automatically scores inherent and residual risk of various business activities. Privacy managers and business unit leaders can now access the risk information they need to know, when they need it, and in the right context.
Risk Profile capabilities include:
- Dashboard Widget: Using a simple scoring method, privacy managers and business leaders make a determination of how many risk factors are associated with any given business activity. With a high level view and an ability to dive deep into risk factors, users get greater visibility into risk across their business — straight from the dashboard.
- Risk Algorithm: The Risk Algorithm covers 40+ laws across the world. This intelligence helps companies identify high risk business activities, conduct the appropriate risk assessment, calculate the risk at the business activity level, and immediately understand overall organizational level risk.
- Risk Evaluation Heat Map: Privacy leaders have full control to go deeper within any business activity level to further investigate risk. With an easy-to-use heat map, users can indicate the perceived inherent risk of a particular business process. Ultimately, this risk evaluation measures and calculates the inherent risk.
- Dynamically Generated Impact Assessment Reports: Privacy owners can now manage privacy programs with the confidence that they have the right controls in place for risky business processes. By determining the number of risk factors associated with business activities, users are streamlined to an appropriate PIA. These assessments result in dynamic reports that can be used in executive meetings, audits, and other business reviews.
Use these benefits in closing:
- Save time by automatically calculating risk and streamlining evaluation of controls in place to mitigate such risk
- Easily view and control risk across your organization and within any IT system, business process, or record
- Communicate compliance needs to other leaders with dynamic reporting
In this age, companies being agile as they fight to keep up with consumer needs while also being responsible with the use of personal data. TrustArc is committed to helping businesses make business decisions faster, leveraging privacy intelligence to do so.
Want to learn more? We’d be happy to set you up with an expert.