Checklist for Alternative Investment Managers
Data Privacy Day – celebrated on January 28 – brings awareness to the private sector around the safety of personal data and best practices for protecting one’s own data.
For Alternative Investment Managers, concerns around data safety and protection of their firm’s data cannot be highlighted just one day a year – it must be a constant focus.
As 2020 kicks off, having a robust data privacy program and 24/7 diligence must be a top priority for every manager. Now more than ever, ensuring the protection of all organizational personal information is crucial for every firm’s professional reputation, and ultimately – success. Regulations like GDPR, CCPA, and Cayman DPL are demanding the highest level of security for confidential data. What’s more, investors are too.
For Drawbridge, privacy is at the core of our mission. We’ve identified the key foundational pillars to build a data privacy program that exceeds regulatory and investor demands:
- Identify Key regulations your firm must comply with (GDPR, CCPA, Cayman DPL, etc.)
- Ensure your cybersecurity program includes protection of sensitive data – using a privacy module is best
- Use our Data Privacy Checklist to ensure every corner of your firm is protected –
Drawbridge’s Privacy Checklist:
- Review the specific requirements for each relevant regulation
- Ensure your policies include data classifications
- Review your vendor agreements and contracts
- Conduct data mapping exercises to identify where your critical data resides
- Clearly outline how critical data is protected
Pressure from regulators – and inevitably, your investors – around privacy will continue ramping up in 2020. Is your organization prepared and protected?