In a constantly evolving digital landscape, one major concern keeps rearing its head at C-suite leaders: data privacy.
Data privacy involves handling sensitive data, including when and how personal data can be collected and shared. Studies show 53% of global internet users are more concerned about their online privacy than they were previously and 85% of global adults want to do more to protect their online privacy.
So how does a brand ethically collect data, keep it protected, and then use the data to promote advancements? That’s where the chief privacy officer (CPO) comes in.
What is a CPO?
The chief privacy officer is a recent addition to the C-suite but plays a vital role at the core of every company — maintaining and utilizing data privacy in an ethical manner.
You may be thinking “Doesn’t this role already exist?” Yes and no.
There are some similar roles like the Data Privacy Officer (DPO) or the Chief Information Security Officer (CISO) who also deal with data, but each role has key differences that can alter how the organization uses collected data. So, what’s the difference?
A CPO is more than just a data compliance officer. It is a strategic role that understands the importance of privacy, the competitive advantage of using data ethically, mitigating risks of privacy breaches, and more.
A DPO on the other hand functions as impartial guardians of compliance in the present day, making sure a company is following the current data privacy laws and finding weaknesses. While it is a very important role, it is a more limited position. Similarly, CISOs may also deal with data, but this role is more focused on cyber security and data protection from unauthorized individuals.
Why You Need a CPO
The chief privacy officer can cover a broad set of tasks and is an asset for behind-the-scenes operations. Here are five ways hiring a CPO can help you.
- A CPO will be able to monitor and store data all in one place, creating a stronger framework that the organization can build off. This gives a company a competitive advantage in the marketplace to promote innovation without compromising privacy.
- This role will also analyze data practices to ensure long-term growth while still complying with privacy regulations.
- The CPO is able to discover and patch weak points, reduce inefficiencies, advocate certain privacy measures, and proactively mitigate risks of data breaches.
- They ensure the organization’s compliance with current privacy laws and prepare for future regulation changes.
- A chief privacy officer oversees notifying consumers what data is being collected and offering them a choice to opt-out. If a breach does happen, it is the CPO who is in charge of response efforts, reporting the breach, and regaining that trust.
Source: StrongDM
