What is Compliance
Compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that organizations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws, policies, and regulations.
Business and Compliance
When it comes to a business and corporate management, compliance refers to the company obeying all of the legal laws and regulations in regards to how they manage the business, their staff, and their treatment towards their consumers. The concept of compliance is to make sure that corporations act responsibly.
The pressure to comply with constantly changing regulatory, third-party, and internal guidelines can be overwhelming. Being unprepared to manage risks yet meet mandates can lead to economic consequences and legal liabilities. Both can contribute to a significant financial impact and hurt to your reputation, which could prove even more damaging. You may be exposed to threats you’re not yet familiar with that could be putting your company’s reputation at risk—and even jeopardizing its future.Many major companies within the United States are subject to some type of security regulation.
Complying to regulatory compliance
Regulations that contain information security requirements are intended to improve the information security level of organizations within that industry and many organizations would welcome such information. The difficulty comes in determining which regulations apply and in interpreting the requirements of the regulation. The regulations are not written in a way that is easily understood by the average business person so many times a security professional is needed to understand the requirements and how to best implement them. Professionals have experience implementing systems, policies, and procedures to satisfy the requirements of the regulation and enhance the security of your organization and some have obtained credentials such as (CyberSecOp Information Security Practitioner) that signify their understanding of the regulations. Often the requirements are given in general terms leaving the company to determine how to best satisfy the requirements.
For those organizations without a robust security department, we provide a Virtual CISO offering with expertise in the following:
NIST & NIST Cybersecurity
NY DFS Requirements 23 NYCRR 500