Governance and Compliance (OBJ 5.1 & 5.4)

Governance

• Overall management of IT infrastructure, policies, procedures, and operations
• Framework
  • Aligns with organizational objectives and regulatory requirements
• Crucial Aspects
  • Risk Management
    • Governance helps in identify, assess, and manage potential risks
  • Strategic Alignment
    • Ensure IT strategy aligns with business objectives
  • Resource Management
    • Efficient and effective use of IT resources
  • Performance Measurement
    • Mechanisms for measuring and monitoring the performance of IT processes

Compliance

• Adherence to laws, regulations, standards, and policies that apply to the operations of the organization
• Importance
  • Legal Obligations
    • Non-compliance leads to penalties (fines, sanctions)
  • Trust and Reputation
    • Compliance enhances reputation and fosters trust
  • Data Protection
    • Prevents breaches and protects privacy
  • Business Continuity
    • Ensures continuing operation in disasters or disruptions

Governance Structures

• Boards, Committees
  • Key elements in organizational structure
• Government Entities
  • External entities influencing governance
• Centralized vs Decentralized
  • Explanation of organizational structures

Policies

• High-level guidelines indicating organizational commitments towards certain actions such as data protection or ethical conduct.
• Topics Covered
  • Acceptable Use Policies
  • Information Security Policies
  • Business Continuity
  • Disaster Recovery
  • Incident Response
  • Change Management
  • Software Development Lifecycle (SDLC)

Standards

• Specific, mandatory actions or rules adhering to policies
• Often defined by an industry or regulatory body
• Covered Standards
  • Password Standards
  • Access Control Standards
  • Physical Security Standards
  • Encryption Standards

Procedures

• Step-by-step instructions to ensure consistency and compliance with both policies and standards
• Covered Procedures
  • Change Management Procedures
  • Onboarding and Offboarding Procedures
  • Playbooks

Governance Considerations

• Regulatory considerations
• Legal considerations
• Industry considerations
• Local and regional considerations
• National considerations
• Global considerations
• Legal issues that your organization could face if you went astray of any of these governance considerations.

Compliance Coverage

• Monitoring and Reporting
  • Concepts like due diligence, due care, attestation, and acknowledgment
• Internal and External Compliance
  • Differentiating factors
• Automation in Compliance
  • Utilizing automation in the compliance process

Consequences of Non-compliance

• Fines, Sanctions
  • Legal penalties
• Reputational Damage
  • Impact on trust and reputation
• Loss of License, Contractual Impacts
  • Severe consequences