We sat down with Lee Bristow, Co-founder of Phinity Risk Solutions, on the latest Dublin Tech Talks podcast. Lee shared some invaluable insights into the world of risk and compliance management, especially in the context of the ever-evolving tech landscape. We also discussed rugby prior to Ireland beating South Africa.
Here are the top takeaways:
🔰 Early Policy Implementation: Lee emphasised the importance of implementing clear policies early in your business journey. Even for startups, having solid policies, particularly related to data security, can save you headaches down the road.
🤖 AI's Impact: How Artificial Intelligence is becoming a game-changer in risk and compliance management. AI's ability to analyse unstructured data and predict risks can provide a substantial advantage for organisations.
⬆Integrated Approach: Lee stressed the need for an integrated approach to risk management. Instead of handling risk assessments in silos, consider a holistic view that covers areas like privacy, information security, and health and safety.
↗ Aggregated Platforms: Lee highlighted the power of aggregated platforms that bring together different risk and compliance elements. This approach streamlines processes and makes it easier to manage compliance across the entire organisation. 👩💼 👨💼 Board-Level Concerns: Risk and compliance are not just internal matters; they're board-level concerns. Transparent reporting and visibility into risk-related data can empower boards to make informed investment decisions and avoid firefighting scenarios.
💱 The Evolving Regulatory Landscape: We touched upon the ever-evolving regulatory landscape. New regulations emerge all the time, and organizations need to adapt quickly, making a robust risk and compliance management system essential.
These insights shed light on the complex world of risk and compliance and how technology is transforming the way we approach these challenges. What's your take on these points? Let's continue the conversation.
About Phinity Risk Solutions The business develops cloud applications for the information risk and governance market. The Phinity Risk Solutions platform integrates into your risk and compliance processes to help you decrease your risk exposure. Boost your risk management capability and manage your organisational risks, from identification through to remediation, with the help of our powerful solutions.
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