Developing a robust Data Privacy Program for an EU financial institution that complies with the General Data Protection Regulation (GDPR) involves addressing multiple interconnected areas.
Proposed GDPR Alignment Program
Maxloyal provides its Data Privacy services delivery over 13 integrated pillars Framework. We believe these 13 pillars platform can deliver a strong and effective compliance and alignment program
Governance and Accountability
Ensure organizational commitment to data protection and establish clear accountability.
Legal Basis and Data Processing Framework
Understand and document the legal grounds for processing personal data.
Consent Management
Comply with GDPR requirements for obtaining, managing, and withdrawing consent.
Data Subject Rights
Implement processes to manage and respond to data subject requests.
Data Breach Management
Develop a comprehensive data breach response plan, with reports and training to report.
Data Security and Risk Management
Safeguard personal data through technical and organizational measures.
Data Inventory and Classification
Develop a detailed understanding of the data lifecycle within the bank.
Employee Awareness and Training
Cultivate a culture of privacy and compliance with role-based training.
Cross-Border Data Transfers
Address compliance for international data flows, with mechanism and measures.
Continuous Monitoring and Audit
Ensure the program remains dynamic and responsive to evolving risks and regulations.
Integration with Other Regulatory Requirements
Harmonize GDPR compliance with other banking regulations, such as AML, KYC, and PSD2.
Vendor and Third-Party Management
Ensure third parties comply with GDPR standards.
Customer Engagement and Communication
Build trust through transparency and effective communication.