Organizations understand that risk is constantly alive and active, especially in high-growth organizations. In most cases, the Chief Compliance Officer, Chief Information Officer, or Chief Information Security Officer must report to the Board of Directors and others on the cybersecurity compliance and risk initiatives and statures of the company, while also ensuring that the company is always compliant with whatever standards that may be asked of them.
The Emergence of Integrated Risk Management Providing CCO Tools
Especially in highly regulated industries, managing all of these moving parts can be a constant battle. Manual processes simply can’t keep up with all the changes that are made and information that is collected. In the corporate compliance and oversight use case, it's essential to have the right tools at hand. Implementing an integrated risk management tool can be the no-fail way for you to achieve continuous, provable compliance rapidly. If you have a tool that centralizes information from various sources into an integrated, asset-based risk framework and that, controls and remediation activities, you are, as they say, "GOLDEN".
Gartner says: “CCO tools provide the framework and support for standardization of compliance activities and automation to increase efficiency and effectiveness of compliance management programs. CCO enables a common cross-enterprise approach to IT compliance activities that most affect the regulatory oversight of corporate governance. This is done through the support of the five major requirements for managing a compliance program: policy development, aggregation and normalization, control monitoring, workflow management, and case management.” (Market Guide for Corporate Compliance and Oversight Solutions by Gartner)
The reason Integrated Risk Management tools are so important to achieving CCO success is because IRM solutions are risk focused, and enable rapid compliance assessment, tracking, and reporting, even up to the Board of Directors in some cases, such as CyberStrong. To understand the full scope of risk, organizations require a comprehensive view across all business units and risk and compliance functions, as well as key business partners, suppliers and outsourced entities. Developing this understanding requires risk and security leaders to address all IRM attributes, including Corporate Compliance and Oversight.
The Corporate Compliance & Oversight (CCO) Tool that You Can Use NOW
Tracking risks, controls, and remediation activities are important to achieve credible compliance and to get a transparent view of current risks. Compliance managers must have a framework to standardize compliance activities, and have access to the automation necessary to increase efficiency in their compliance programs. Policy development, control monitoring, workflow management, and risk assessment are just some of the features that compliance teams need to succeed.
CyberStrong meets the needs of compliance managers by providing the compliance frameworks, controls, policies, and technology needed to run a proactive compliance program. Compliance teams can prove, maintain, and report compliance at any time.
Patented cost vs. impact weighted next steps that help you reach your compliance goals
- Team-wide workflow that speeds up data gathering and enhances communication across all levels
- Automated data aggregation on intuitive dashboards give a live view of compliance and risk posture
- Unmatched access to any framework including NIST, ISO, DFARS, GDPR, and even custom controls
- Policy and procedure library linked to relevant controls
- NIST 800-30 Risk Management Framework methodology