Australian Data Risk Management

Australian Data Risk Management

Our Beginning

August 2021

Reading Time: 2 mins

Having experienced the fallout of an alleged data breach, Sharon Eacott established Australian Data Risk Management (ADRM).

ADRM helps companies and boards to keep their information and data safe, secured, and protected through good governance.

Imagine you are a senior manager, executive, or director of a company. You log on to read the morning news and see your company’s name on the front page for alleged misuse of customer data. You cancel your meetings for that day.

Data misuse or a data breach allegation can impact business activities for many months. It also affects the organisation’s reputation and consumer trust.

Data events trigger increased costs and reallocation of resources. There are regulator inquiries, remediation projects, technology upgrades, business partner and supply chain changes, increased need for legal advisors, additional assurance and audits, and responding to insurer inquiries.

The founder of Australian Data Risk Management (ADRM), Sharon Eacott, experienced such an event, as a General Counsel, of a large company in a highly regulated sector. She knows and has managed the impact.  

When she turned to external advisors for support, she saw data governance and data regulatory service offerings fragmented across numerous advisors. Services did not address the size, shape, or nature of the business.

While most companies focus on technology and cybersecurity programs to protect data, companies overlook the need for effective enterprise data governance.

Sharon notes, “All business processes and activities generate data. In addition to cybersecurity protections, governance needs to support the responsible and compliant use of data.”

“Effective enterprise policies, controls, assurance, and reporting provide directors and boards with confidence that the organisation knows its data, has effective controls in place to manage that data, and that technology exists to protect the data.”

An example is information and data policies and controls to address data risks in supply chains and contracts.

“Data incidents are inevitable. I established ADRM to help companies structure their governance to minimise incidents and fallout.

“I want to help boards and senior management be confident that the right frameworks and controls are in place to keep the company’s data safe, secure, and compliant with data regulation. Data governance should connect with a company’s enterprise risk management framework and corporate governance.”

Sharon established ADRM in May 2021.   

Sharon observed that “in talking with senior management and non-executive directors across different sectors about data risk management, many have said, I don’t know where to start, or I don’t know what good looks like, or I don’t know what questions to ask.”

Part of the reason is that the language used by IT specialists is different from the governance language used by boards and business leads. ADRM helps you bridge the gap between technology legal and compliance specialists, senior management, and the boardroom.”

ADRM helps companies and boards to keep their information and data safe, secured, and protected through good governance.

Want to know more?

Get in touch with Sharon if you want to know more.

Sharon Eacott is the Executive Director of Australian Data Risk Management, a consulting firm helping companies to keep information and data safe, secured, and protected through good governance.

 

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