Operationalize Regulatory Compliance Efforts into a Security Program

VerSprite understands regulatory compliance challenges and we are the only firm that has the vision to operationalize compliance efforts into a security program. Why run compliance efforts apart from security efforts if you can align the two to both save money and not let a compliance-driven program be your security defense strategy?

Via its tailored, managed service offerings, VerSprite has been able to operationalize both regulatory and control framework requirements across PCI-DSS, FISMA, FedRAMP, HIPAA’s Security Rule, NERC CIP, ISO 27001, NIST CSF, HITRUST CSF, EI3PA, CJIS, FFIEC, FINRA, NCUA, FDIC, GLBA, and SOX.

Our SecOps and GRC teams work to automate baselining techniques and map client controls to existing technological and process-based controls. Through this integrated method, VerSprite has helped clients reduce the burden of compliance audits on technology groups and the overall business. By focusing on real security, VerSprite will help you demonstrate how those controls fulfill regulatory obligations

Come to know Evolved Security Consulting via additional details around prominent compliance standards and laws.

Regulatory compliance is a cornerstone of business operations, obligating organizations to abide by laws, regulations, and industry standards. It comprises a spectrum of rules and guidelines that companies must conform to uphold legal and ethical practices.

VerSprite delves into many crucial factors:

• The significance of regulatory compliance
• Obstacles that organizations confront in achieving regulatory compliance
• Variances in compliance prerequisites across industries and strategies for ensuring compliance within organizations
• The pivotal role of data security in regulatory compliance

 

What Makes Regulatory Compliance Essential?

Regulatory compliance is instrumental in preserving business integrity. It mandates that organizations comply with laws, regulations, and industry standards governing their operations. By adhering to these regulations, businesses exhibit their dedication to ethical practices and responsible behavior.

Non-compliance can lead to severe ramifications, affecting both reputation and financial stability. When a company fails to fulfill regulatory obligations, it risks tarnishing its reputation as customers, investors, and stakeholders lose faith in its capacity to operate ethically and responsibly. This loss of trust can result in a drop in business opportunities, investor confidence, and partnerships.

Conversely, fostering a culture of accountability through regulatory compliance and security, we set up a framework that encourages employees to act responsibly and make ethical decisions to protect the company from mistakes. This cultivates a culture of accountability, where employees comprehend their duties and take responsibility for their actions.

At VerSprite, we recognize the significance of regulatory compliance and its influence on businesses. Our exhaustive array of compliance services assists organizations in navigating complex regulatory landscapes, ensuring they fulfill all necessary obligations.

Obstacles in Attaining Regulatory Compliance

When it comes to regulatory compliance, businesses encounter numerous obstacles that can render the process intricate and demanding. Comprehending and adhering to the ever-evolving regulatory frameworks and changing requirements is one such challenge. With regulations perpetually being updated and revised, organizations must stay current and ensure compliance with the latest standards.

Risk Assessments

Security converges on process and technological controls. Our risk assessments evaluate your security program to the requirements set forth by HHS and OCR. Our GRC groups are well versed in the Administrative, Technical, Physical, and Operational control domains reflected by HIPAA’s Security Rule. Our audits apply to both covered entities as well as business associates who serve the needs of covered entities and who are also in the scope of HIPAA compliance.

A comprehensive compliance regulatory risk assessment can both uncover control gaps that would benefit from varied remediation patterns presented by our team and a well-defined and clear roadmap for an entity in moving forward with a security roadmap.

Risk assessments can encompass more than just a review of security processes and IT controls, but also include security exercises such as red team exercises, social engineering exercises, or penetration tests.

Technical Audits on EMR Systems

VerSprite can provide targeted engagements for covered entities who are most concerned about their technical security posture versus some of the other controls they may have around operational, physical, or administrative controls.

Our SecOps team supports our GRC practice by creating specific technical checks that evaluate the configuration of EMR systems. The scope of our expertise includes infrastructure assets like firewalls, wireless routers, servers, mobile client devices, databases, and endpoint devices. Our checks help to address the compliance of those systems as well as the security resiliency of your network.

Handling regulatory compliance across multiple industries and jurisdictions is another significant challenge. Each industry has its own set of regulations.  Businesses operating in multiple sectors must navigate through a labyrinth of compliance prerequisites.

A critical challenge in attaining regulatory compliance is striking a balance between compliance and operational efficiency. Compliance measures often involve additional administrative tasks, increased documentation, and stricter processes. While these measures are necessary to meet regulatory compliance obligations, they can sometimes impede operational efficiency and productivity.

At VerSprite, we comprehend the challenges organizations face in attaining regulatory compliance. Our experienced team of compliance professionals can guide you through the complexities of regulatory frameworks, managing compliance across industries and jurisdictions, and striking the ideal balance between compliance and operational efficiency. With our comprehensive solutions and tailored strategies, we aid businesses in achieving and maintaining regulatory compliance while optimizing their operations.

Variations in Regulatory Compliance Across Industries and Nations

Regulatory compliance is a vital element of business operations, obligating organizations to adhere to specific laws and regulations governing their industry. However, it’s significant to recognize that compliance requirements can differ markedly based on industry sectors and countries.

One of the key variations in compliance requirements is based on industry sectors. Different industries have unique characteristics and face distinct risks, which necessitate tailored compliance frameworks.

For example, heavily regulated sectors such as finance, healthcare, and energy often have more stringent compliance standards compared to other industries.

Health Insurance Portability Accountability Act (Security Rule)

In the U.S., healthcare records continue to evolve to electronic format as electronic medical records (EMR). EMR records and more specifically, protected health information (PHI) represent data that is used operationally by insurance providers, hospitals, pharmacies, dental groups, and healthcare technology groups.

VerSprite has worked with HHS, OCR, insurance companies, large healthcare systems, private practices, and 1000+ bed hospitals (collectively known as covered entities). Throughout the years, we’ve come to understand much more than just regulatory compliance gaps in HIPAA’s Security Rule. VerSprite will work with you to help address such gaps in the context of the business operations that you operate. We are not auditors – we are security professionals who understand risk and compliance.

Payment Card Industry Data Security Standard (PCI-DSS)

Card security today evolved to include key countermeasures against fraudulent transactions.  Yet, there are key misses in security architecture, implementation, security configuration, and internal fraud that continue to wreak losses and liabilities for companies of all sizes. VerSprite is not a QSA but we do perform the heavy lifting when it comes to readiness and remediation. We go beyond project managing your PCI-DSS responsibilities but extend into helping clients operationalize security controls into their technological procedures.

VerSprite’s Point-of-Sale security research has revealed a multitude of concerns regarding the secure development of payment applications.

For assistance with HIPAA’s Privacy Rule, click here to view our Data Privacy section.