Fact or Fiction: Everything You Need to Know about Leading Compliance Initiatives

by Sarah Harvey / January 16th, 2020

Why is Compliance is a Top 3 Initiative?

It’s no secret that the cyber threat landscape is evolving at an alarming rate. Now more than ever, businesses must implement compliance initiatives to avoid the growing threats of a cyberattack in the new decade. As a leader of your organization, it’s your responsibility to see this through. In this webinar, you’ll learn from KirkpatrickPrice President, Joseph Kirkpatrick, about everything you need to know about leading compliance initiatives.

According to a 2019 survey conducted by The Conference Board, “U.S. CEOs rank cybersecurity as their #1 concern.” Now, why is that? Take a look at just a few statistics that IBM’s 2019 Cost of a Data Breach report included:

  • The global average total cost of a data breach is $3.92 million
  • The global average size of a data breach is 25,575 records
  • The global average time to identify and contain a breach is 279 days
  • Inadvertent data breaches from human error and system glitches are still the root cause for nearly half (49%) of the data breaches studied in the report
  • If a third party caused the data breach, the cost increased by more than $370,000

As security incidents and data breaches are on the rise, C-suite executives must carry more of the responsibility to ensure that their organizations are prepared for the advancing threats of malicious individuals and groups.

6 Steps for Leading a Successful Compliance Initiative

While this list isn’t exhaustive and should be formatted to meet your business and industry needs, the following six steps can guide executives toward leading a successful compliance initiative, help prepare organizations against cyber threats, and ensure compliance.

  1. Connect the goal to your business’ purpose
  2. Accept responsibility
  3. Define priorities
  4. Choose the team
  5. Determine S.M.A.R.T. goals
  6. Enforce accountability

Want to dive deeper into these insights? Watch the full webinar on-demand now!