KEEPING YOUR FINANCIAL SERVICES BUSINESS DATA PROTECTED AND COMPLIANT
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HOW JXG CAN HELP WITH COMPLIANCE FOR FINANCE SECTOR
Having your compliance in order is essential in the world of finance which is a very heavily regulated industry these days, whether it’s an accountant or a pension company and rightly so! My 27 years experience in compliance, business management and business continuity in the FTSE 100 & 250 arena of the banking sector gives me a deep understanding of the area of compliance in this field and the challenges.
People trust you with their money and your advice to make it work for them, but do they know what you do with their data? Ensuring CRM systems are secure and you are aware of the journey your clients data takes is vital due to the sensitive nature of the information your clients provide.
JXG has advised accountancy firms, wealth planning businesses, pension advisory companies and other financial businesses with Data Protection compliance, training, subject access requests and data breach management.
We can help your business stay on top of its compliance
“IT WAS PAIN FREE AND EASY WORKING THROUGH THE PROCESS WITH JXG LEAVING ME MORE TIME TO FOCUS ON OUR OWN BUSINESS WITHOUT THE WORRY.”
MATT ALLEN, DIRECTOR, SYNERGEE ACCOUNTANTS
SO WHAT’S THE NEXT STEP?
FINANCIAL SERVICES DATA PROTECTION
Making sure your policies are correct, up to date and available on-line is also a big part of your businesses compliance and something that could be looked at during a compliance inspection. This is something JXG could assist you with and help you plan for throughout the year.
We are your insurance policy. The ICO investigation can issue fines of up to £18m. That’s a worst case scenario but it’s a sobering thought that the average fine is around £100,000 – how would your business survive? We ensure you not only protect your clients data but your business.
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Data Protection (GDPR) Project Management
This involves an audit, action log, gap analysis, policy reviews, 3rd party due diligence and a library of checklists and procedures. JXG can provide training for your staff or recommend alternatives. This is also available as a toolkit providing you with the materials to complete yourself.
What would you do if your staff couldn’t get into the office one day? Or you suffered a cyber-attack? Business Continuity goes hand in hand with Data Protection in terms of protecting your data and having the right back up procedures in place should you ever have an IT hack or a fire!
Data Protection (GDPR) Annual Check
The ICO recommends that Data Protection procedures are reviewed on an annual basis to ensure they are still relevant, current and to maintain compliance. This is a fresh pair of eyes reviewing your procedures and checking you’ve included anything new from the past 12 months.
Compliance is like an insurance policy, you often don’t need it until it happens! So, you don’t necessarily remember how to do everything, all the time. That’s where JXG comes in, we help lessen the load to ensure you stay on top of everything. Find out more about how we can help.