By Dave Deasy, VP Marketing at TRUSTe
On Tuesday Feb. 10, we held our third event of the 10 events in the TRUSTe Privacy Insight Series, an informative and highly interactive roundtable bringing together over two-dozen top professionals from the privacy ecosystem. While the weather outside was cold (at least by California standards), the room was hot with a vibrant exchange of privacy best practices and advice on a wide range of topics.
TRUSTe CEO Chris Babel kicked-off the event by moderating a panel comprising of executives from Motorola, PwC and Compliance Week. One of the more notable discussion items was the need for a cross-functional team to address privacy across the enterprise. The days when privacy was the sole domain of legal are long gone and now require teams from compliance, IT, marketing and engineering to work together. This approach helps ensure there is a true enterprise-wide understanding of privacy and processes that can be properly aligned. The session also highlighted the challenges and importance of understanding where your data is – what do you collect, how it is collected, where is the data stored, who has access to it, etc. The rapid advances in technology, along with the increased use of third parties, has made managing the privacy aspects of data much harder.
I led a session presenting key findings from TRUSTe’s Privacy Assessment Benchmarking Study. Key highlights included estimates on the volume and time investment required to complete a Privacy Impact Assessment (PIA) — 59 per year and 285 hours per assessment respectively. I also presented insights into why PIAs take so long – the top challenges include getting participants to respond and the time required to complete the compliance gap analysis.
There was a second panel led by TRUSTe’s Kevin Trilli, featuring executives from Kellogg and Baxter International. They discussed the challenges enterprises face managing their privacy operations. This was followed by an informative demonstration of TRUSTe’s Assessment Manager product. Assessment Manager is the newest addition to the TRUSTe Data Privacy Management Platform and automates the process for conducting and managing assessments.
Our next event is a webinar discussing Vendor Management Best Practices on February 19. Register here.