Sophistication of the collection, analysis, and use of data is expanding exponentially, complicated by artificial intelligence. While the concept of risk related to data ethics is relatively new, CAEs predict that its relevance will grow rapidly over the next five years. The board and CAEs are somewhat more optimistic about their organizations’ capability to manage risks related to data ethics; however, all parties are aligned in their perspective that they lack significant knowledge on the risks. As the regulatory environment around data ethics evolves, all parties certainly must expand their knowledge of this risk. Based on the bold new OnRisk 2020 report — the only report that provides perspectives from all the key players in the risk management process: CAEs, executive management, and the board, this webinar will address organizational conduct and the potential associated reputational and financial damages for failure to establish proper data governance.
Learn ways to construct governance around data collection and management
Understand the importance of having your organization’s code of conduct reviewed and acknowledged in writing by employees on a regular timeframe, inclusive of data-related elements
Create strategies to make customers aware of the data being collected on them and how it is being utilized
Develop a risk assessment plan regarding data to be collected, including risk reporting to executive management and the Board.