Managing Processor Risks Under the GDPR
Third parties (i.e., processors under the GDPR) are a critical piece of the compliance puzzle. Organizations around the world that are subject to the GDPR rely on processors to process personal data. Operational changes to comply with the regulation have upended common third-party risk management best practices. Organization must delve deeper into where personal data is going, as well as how processors use and safeguard personal information.
As more and more processors shift to the cloud, data moves freely across borders. However, these transfers may put data subjects’ personal data at risk. Under the GDPR, organizations must maintain records of these processing activities and ensure that transfers are lawful. And with many processors, including subprocessors, involved, understanding who has access to data, where is it processed, and how is it safeguarded is critical to compliance. With OneTrust Vendorpedia, use data flow mapping functionality to collect information regarding processing activities, identify the processors involved, as well as the manage risks and contracts needed for compliance.
Under the GDPR, accountability for safeguarding personal data falls upon you and your processor. Your organization should work only with processors that provide sufficient guarantees that they have implemented proper technical and organizational measures to meet the GDPR’s requirements. With Vendorpedia Assessments & Due Diligence, your organization can find out what risks the processor poses, as well as what security and privacy controls your processors have in place.
Organizations leverage Data Processing Agreements (DPA) to prohibit processors from using personal data information without their authorization, among other mandates. Within Vendorpedia, your organization can track these key clauses and tie them directly to the relevant processor. Further, with a customizable automation engine, your team can configure automation rules to take action, like sending a reassessment or kicking off a vendor offboarding workflow, when processors breach DPAs.
Without recordkeeping, demonstrating compliance with the GDPR is impossible. Spreadsheets and email don’t scale, often leading to inaccuracies and outdated data maps and processor inventories. The solution lies within software that is purpose-built to automate recordkeeping. OneTrust Vendorpedia helps organizations centralize processors, their contract information, and the risks associated with each one. Further, Vendorpedia enables third-party risk teams to track mitigation efforts over time and monitor processor-related risks and processor performance over time.
Is your business’s third-party risk management program meeting the GDPR’s processor requirements?
Managing Third-Party Risks to Demonstrate GDPR Compliance with OneTrust Vendorpedia
Track, report, and build automation triggers on key contractual terms to hold third parties accountable to their compliance-related responsibilities
Leverage research from OneTrust DataGuidance, integrated directly in the platform to guide decision-making and track processor breaches & enforcement actions
Empower your third-party risk team with workflow automation to collaborate more effectively with privacy, procurement, security, and other departments