IGA Compliance Management System

Benefits of Certification, Risk, and Audit Reporting 

• Cross-System Certification
  Automatically run certification campaigns and surveys to validate that access rights are still needed and current.
  

• Manage Risk and Compliance
  You will have access to a powerful risk management concept that can be used to determine the severity of audit events. Risk scores are calculated based on data classification tags applied to data, with associated risk factor and risk weight. 
  

• Prepare for Audits 
  Over 50 standard auditing report templates are provided out-of-the-box with the ability to modify and define new report types. Reports are also generated for activities, such as attestation, as well as any violations of control or constraint policies. Comprehensive risk check reports based on risk scores are also available.
  

• Enforce Separation of Duties Policies
  Automatic evaluation of separation of duty (SoD) policies ensures that individuals are not granted toxic combinations of access rights. Automated processes detect violations and allow managers to determine whether access should be allowed, with justifications, or removed. 

The Basics of Compliance Management

Compliance system management is the process of monitoring and assessing company systems to ensure security policies are in place to meet business-specific regulations. Regulations are typically based on the industry, location, size, public vs. privately held, or other such criteria. Successful management compliance enables any company to face down any audit with confidence.

Identify non-compliant systems in the ever-evolving web of legal requirements and regulatory changes. Noncompliance could lead to thousands in fines per breach, reputational damage, lawsuits, and more, meaning a reliable compliance management tool is mission critical for any company’s security program.

Compliance management is non-negotiable for all organizations. Organizations must adhere to rules, including labor laws, environmental regulations, the General Data Protection Regulation (GDPR) from the European Union, Sarbanes-Oxley (SOX), and the California Consumer Privacy Act (CCPA).

The consequences of non-compliance are significant and could lead to significant business disruption. Act on the risks and rectify vulnerabilities as soon as possible to mitigate the potential fallout.

Assess

Start the compliance process by identifying systems that are non-compliant with current rules and regulations. Mark systems that are potentially vulnerable or legacy applications that have yet to be properly patched.

Organize

Rank flagged systems in order of priority. Consider the critical nature of the system, how much work will be involved to achieve compliance, the impact of achieving compliance, and the severity of the identified issues.

Remediate

Act with a top-down approach, focusing on the most urgent noncompliance issues. Patch, reconfigure, and review systems that require action.

Report

Perform an internal audit to validate any changes that were made. Record these changes and report on the results of those changes. Provide recommendations on further development for any particular product or system in use.

Compliance Management Best Practices

The essence of governance compliance and risk management is implementing best practices throughout organizations.

Effective compliance management solutions rely on creating policies, enforcing them, and regularly reviewing them for potential improvements.

Determine End Goals

Choose the most effective path by defining the end goals of compliance management from day one. Developing a compliance system with clarity requires understanding which direction the company wants and needs to take.

Evaluate management’s goals in three key areas:

• Prevention – Preventing fraud, errors, breaches, and other unidentified risks. Outlining the path to these goals could include dedicating internal resources, training, and updating written procedures.
• Detection – Achieving a more effective detection system for vulnerabilities within the company. Real-time alerts, regular audits, and mechanisms for addressing compliance issues could include implementing a complaint system, internal-reporting techniques, and evaluating known risks better.
• Remediation – Remediation goals could include a system for ranking the impacts of noncompliance, resolving weaknesses within the compliance system, and developing a disciplinary system for failing to follow written policies.

All goals should be broadcasted to personnel within positions of responsibility. Any objective should have a system for easily measuring progress.

Frequently Monitor Systems

The world of data security never stands still. New technologies constantly lead the arms race against bad actors and cybercriminals. Companies must ensure that they continually audit their own systems to scan for vulnerabilities, including when patching, upgrading, or implementing new software.

Automate

Mitigate the risks associated with human error by automating the process with compliance management software. Full automation frees up essential resources, such as human capital, and streamlines tedious tasks, such as security scanning and reporting. Automation produces audit-ready reports that can be easily understood and are laser-focused on results.

Patch

Avoid the obsoletion of your security systems by implementing patches immediately. Software for compliance management provides instant alerts on when platforms must be updated or when patches for third-party tools become available.

Set aside time at least once per month to search for patches, examine the content of audit reports, and allow the IT team to complete the necessary updates. With software for compliance management, the patching process can be fully automated, thus saving time and increasing productivity.

Train Employees

No compliance management system can function without buy-in from everyone. Training for everyone who has internal access increases buy-in by helping everyone from the financial department to human resources to third-party contractors, to understand why a compliance management system is necessary.

Create a culture of accountability with real enforcement to turn compliance and risk management into more than a box-checking exercise.

Regular education for new and existing members of the workforce makes managing risk and compliance with internal and external security policies a priority for the organization.

Connect and Integrate Tools

Companies often use various management tools for their platforms. Integrate via Application Programming Interfaces (APIs) to allow for the management of each tool within one location.

Limiting the number of interfaces streamlines the tasks involved in any compliance management system. Doing so improves visibility, which is beneficial for creating a more transparent insight into a firm’s security situation.

Frequently Asked Questions

What is compliance management?

Compliance is necessary for more than simply securing your digital assets—it is the law. Every industry has its own regulations, and failure to comply could mean significant fines and a loss of client confidence.

Dedicated compliance officers are responsible for crafting the policies and procedures that enable companies to pass any internal or third-party audit. In many cases, these audits are required, meaning any compliance management system must stay abreast of the latest applicable rules.

Turning to state-of-the-art tools, such as Omada, enables companies to avoid the complex task of juggling a variety of responsibilities at once. Automation has made managing compliance more efficient than ever before.

How does a compliance management system work?

Management systems for compliance are a simple way of integrating everything from processes and documents to internal functions and controls to make it easier for companies to stay on top of their obligations.

Companies must comply with legal and regulatory requirements, with those in specific industries required to pass regular audits. Using a dedicated system streamlines the compliance process and reinforces the weaknesses caused by human error that can create vulnerabilities within firms.

Using the right tools enables companies to pass any audit, whether scheduled or not, and minimizes the risks to consumers and their data.

Who is responsible for compliance management?

The buck stops with the leadership of any firm. Responsibility for compliance management ultimately lies with the board of directors. However, the board of directors may not necessarily be the best equipped to deal with the minutiae of how to be compliant. Instead, they may opt to create a dedicated team.

Internally, authority figures will typically assign dedicated compliance officers to implement the necessary compliance programs. However, any fines or other penalties will be levied against the company as a whole—not individuals.

Furthermore, employees must be held accountable for compliance with relevant security procedures. Becoming a security-first organization requires everyone is aware that responsibility is a joint effort, with relevant penalties if personnel drop below the prescribed standards.