Data Protection Risk Management

Risk management in data protection means having to implement risk management frameworks or methods that help organizations to better handle the data that is processed. In the context of data protection, the aim of risk management is not to completely eliminate risks; rather, it is to identify as many proportional responses as possible, reducing the present risks, and identifying any other risks that remain and the options for managing them.

Because of the difficulty in accessing and controlling personal data, many organizations face risks which lead them to substantial costs, including fines and legal fees, or even loss of reputation.

As such, it is a necessity for organizations to integrate the data protection risk management tools with other risk management approaches and methods that have already been implemented within the organization. In this way, the organization would reduce the cost of data protection risk management tools, enhance efficiency, and expertly take advantage of the already developed methods.      

In order to relate the role of risk management in data protection, there are three steps that could be taken into consideration:

1. Identifying and evaluating the negative impacts and harm that could be caused within the processing of data
2. Finding ways to mitigate such harms
3. Managing the remaining risks

In order to learn more about risk management in data protection and its relationship to data privacy, check out the following volume of the International Data Privacy Law book.

Also, PECB offers ISO/IEC 27005 Information Security Risk Management training courses which provide guidelines for the development of an information security risk management approach. ISO/IEC 27005 allows you to acquire the needed knowledge and skills for the initiation of the implementation of a proper information security risk management process.

The importance of risk management in data protection

Data privacy is seen as a fundamental right, as a result, all harmful actions should be avoided at any time and cost. Risk management plays a crucial role in data protection, as it is a key tool for adjusting the implementation of all necessary privacy laws and requirements, as well as for prioritizing the actions of such laws and processes.

Risk management is valuable and helps organizations to better comply with privacy and data protection requirements. It also takes into account different factors, like the likelihood that the proposed data processing may cause individual harm to the people of the organization or outside of it, and the measures that the organization should take in order to mitigate such possible risks. Hence, it also takes into account the negative impacts of such measures, as well as their benefits.  

Check the following whitepaper and learn more regarding the benefits of information security risk management and the implementation of information security risk management using PECB’s risk management framework.

How to manage data risks?

In order for organizations to have the data processing activities under control, they must be able to define what data they process, where such data resides, who has access to such data, and comply with all the applicable data protection laws. In this way, the organization can stay ahead of all possible risks and better manage unpleasant situations.

Since a lot of attacks may come from inside threats, the organization should be able to apply the appropriate controls regarding the role-based access of all of its employees. Nowadays, several tools exist, which help organizations to classify their data, locate them, and determine who should have or should not have access to such data.

The use of appropriate data mapping is another way to manage risks that may threaten an organization, such as security incidents or data breaches. It will help the organization with data migration and integration. It is a very essential and important part of the data management process. When data is not properly located or mapped, it may become corrupted by moving its destination.

ISO/IEC 27005 offers more regarding the implementation of the best information security techniques by following a risk management approach.

If you are interested to know more about the certifications and trainings offered by PECB in relation to ISO/IEC 27005, or any other certification scheme, contact us at marketing@pecb.com.

About the author: 

Vesa Hyseni is a Senior Product Marketing Manager for GRC at PECB. She is in charge of conducting market research while developing and providing information related to ISO standards. If you have any questions, please do not hesitate to contact her: marketing.grc@pecb.com.