TrustArc Webinar: Risk Mitigation - Where to Focus Your Time and How to Report on Progress

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- Third-party risk management is one of the most important aspects of privacy management as third parties provide value but also pose risks. - TrustArc's Risk Profile tool aims to help organizations continuously monitor privacy risks, assess inherent and residual risk levels, and prioritize risks to focus resources. - The tool is being redesigned to offer better reporting through risk dashboards, a simpler user experience with risk charts and project management, and greater configuration options for business levels and organization hierarchies. - Upcoming additions to the tool will help evaluate data transfer risks between organizations.

Technology

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© 2022 TrustArc Inc. Proprietary and Confidential Information.
Risk Mitigation: Where to Focus Your Time and
How to Report on Progress
May 3, 2022

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Speakers
Kristen Nosky
Director of Product Management
TrustArc
Chris Griggs
Product Marketing Manager
TrustArc
Berta Balanzategui
European Senior Privacy & Data
Protection Counsel
GE

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Privacy Management Vs. Vendor Risk Management
Weigh beneﬁts of processing data
Risk associated with data processing
What measure of risk should be
adopted
Privacy Risk Management
Provisions must include vendors
throughout supply chain
Third-parties provide tremendous
value
Vendor Risk Management

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Challenges with Storing Data and Third-Party Data

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Data Privacy Risks
How to proactively identify
and manage privacy risk?

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Data Privacy Risks
Acceptable versus unacceptable risk
Identifying, balancing, and accepting
risk
Prioritizing risk

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3rd Party Apps & Vendors
Signiﬁcant Risks
How to involve the Privacy Team?
How is your data being handled?

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Redesign - The Three Pillars
Better Reporting
Simpler User Experience
Greater Conﬁguration

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Better Reporting
Risk Dashboards
Reducing Complexity
Reporting Improvement in
Risk Mitigation

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Simpler User Experience
Risk Management Chart
Project Management

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Greater Configuration
Business levels
Organization Hierarchy

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What’s Coming - Data Transfer Risk
The purpose of evaluating
data transfer risk
Additions to Risk Proﬁle

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Thank You!
See http://www.trustarc.com/insightseries for the 2022
Privacy Insight Series and past webinar recordings.
If you would like to learn more about how TrustArc can support you with
compliance, please reach out to sales@trustarc.com for a free demo.

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2. 2 2 Speakers Kristen Nosky Director of Product Management TrustArc Chris Griggs Product Marketing Manager TrustArc Berta Balanzategui European Senior Privacy & Data Protection Counsel GE

3. 3 3 Agenda Challenges with Storing Data and Third-Party Data Introducing TrustArc’s Risk Profile Question and Answer Period The State of Privacy Risk

4. 4 4 Privacy Management Vs. Vendor Risk Management Weigh beneﬁts of processing data Risk associated with data processing What measure of risk should be adopted Privacy Risk Management Provisions must include vendors throughout supply chain Third-parties provide tremendous value Vendor Risk Management

5. 5 5 State of Privacy Risk Third - party risk management is the most important 48% 76% “Keeping brand trust” is either important or very important 25% Third-party attack or incident $4.25M Global average cost of a data breach Sources: 2022 Global Privacy Benchmarks Survey, TrustArc --- The State Of Privacy And Data Protection: 2021. Forrester. August 1st, 2021 --- Cost of a Data Breach Report. Ponemon Institute & IBM, 2021

6. 6 6 Challenges with Storing Data and Third-Party Data

7. 7 7 Data Privacy Risks How to proactively identify and manage privacy risk?

8. 8 8 Data Privacy Risks Acceptable versus unacceptable risk Identifying, balancing, and accepting risk Prioritizing risk

9. 9 9 3rd Party Apps & Vendors Signiﬁcant Risks How to involve the Privacy Team? How is your data being handled?

10. 10 10 Introducing TrustArc’s Risk Profile

11. 11 11 Introducing Risk Profile Continuously Monitor and Fully-Automate Risk Assess Inherent and Residual Risk Calculate Risk Levels and Prioritize Your Time

12. 12 12 Redesign - The Three Pillars Better Reporting Simpler User Experience Greater Conﬁguration

13. 13 13 Better Reporting Risk Dashboards Reducing Complexity Reporting Improvement in Risk Mitigation

14. 14 14 Simpler User Experience Risk Management Chart Project Management

15. 15 15 Greater Configuration Business levels Organization Hierarchy

16. 16 16 What’s Coming - Data Transfer Risk The purpose of evaluating data transfer risk Additions to Risk Proﬁle

17. 17 17

18. 18 18 Thank You! See http://www.trustarc.com/insightseries for the 2022 Privacy Insight Series and past webinar recordings. If you would like to learn more about how TrustArc can support you with compliance, please reach out to sales@trustarc.com for a free demo.

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