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Writer's pictureIra Goel

How to Streamline and Optimize Risk Assessments for Compliance?

Risk Assessments

Overview

Gira Group is a center of excellence in the areas of cybersecurity, data protection, AI governance, enterprise risk management, third part risk management and related services. The services we provide to our clients strives to make the programs within their organizations more effective, more efficient, reducing redundancies and reducing costs. One such emerging area where we see most impact is the various assessments the organizations have to perform as a result of different regulations emerging in EU.  


As with any problem, there are many approaches to solve a problem. The approach in this post describes a general approach we find it most pragmatic, holistic and effective in long run.



Too many assessments!

Data Protection Impact Assessment (DPIA), Fairness Risk Impact Assessment for Fundamental Rights Impact Assessment (FRIA), Human Rights Impact Assessment (HRIA) and Trust Impact Assessment (TIA) are different types of assessments that aim to identify and mitigate the potential risks and harms of data-driven systems and technologies. These assessments are often conducted separately but share common goals and challenges.

  • Data Protection Impact Assessment (DPIA): a process to help organizations identify and minimize the data protection risks of a project or activity that involves personal data.

  • Privacy Impact Assessment (PIA): a process to help organizations identify and address the privacy risks of a project or activity that involves personal information.

  • Fairness or Fundamental Rights Impact Assessment (FRIA): a process to help organizations evaluate and improve the fairness of a project or activity that involves algorithmic decision-making or data analysis.

  • Human Rights Impact Assessment (HRIA): a process to help organizations assess and mitigate the potential adverse effects of a project or activity on the human rights of affected stakeholders.

  • Transfer (Trustworthiness) Impact Assessment (TIA): a process to help organizations ensure that a project or activity meets the principles of trustworthiness, such as transparency, accountability, reliability, security and ethics when the data is transferred outside the jurisdiction of EU.


Although these assessments have different origins, scopes, methods, and legal frameworks, they also share common goals and challenges. For example, they all aim to:

  • Identify and address a project or activity's potential harms and benefits for individuals and society.

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