FTI Consulting Launches Robust Data Governance Solution to Help Clients Mitigate Risk and Optimize Data Value
FTI Consulting, Inc., announced the launch of its data governance solution for privacy and compliance needs, which provides clients with a multi-disciplinary team of experts and programs to help meet legal and compliance obligations, optimize business outcomes and support the needs of all business units.
Across global jurisdictions, legal and regulatory environments are intensifying for organizations in an array of industries. In addition to data privacy regulations such as the General Data Protection Regulation (“GDPR”) and California Consumer Privacy Act (“CCPA”), organizations face numerous industry-specific laws that impact data risk. Financial services institutions continue to grapple with managing data in compliance with the Basel Committee on Banking Supervision’s (“BCBS”) 239 and the Fair Credit Reporting Act (“FCRA”). In healthcare, maintaining alignment with the many requirements under the Health Insurance Portability and Accountability Act (“HIPAA”) is one of many ongoing challenges. Organizations looking to contract with the U.S. government must also now contend with the Department of Defense’s complex “Cybersecurity Maturity Model Certification” (“CMMC”) requirements for the management and protection of controlled unclassified information (“CUI”).
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FTI Consulting’s domain expertise in these areas and other highly regulated vertical industries serves as the foundation for its new data governance offering and supports clients in designing programs to tackle governance, compliance, legal and data analytics challenges.
“For most organizations, data has become the greatest risk and the greatest opportunity,” said Jake Frazier, a Senior Managing Director and Head of the Information Governance, Privacy & Security practice within the Technology segment at FTI Consulting. “We view information as an asset, but also understand that for our clients to realize value from complicated data environments, they need to first address the many rules and regulations that implicate how sensitive information is protected, managed, shared and utilized. Our data governance team brings decades of collective, cross-functional experience in managing legal and regulatory challenges and developing transformative programs that reduce risk and unlock data value.”
FTI Consulting’s experts are trusted global leaders in regulatory requirements, governance and advanced data analytics, with experience building end-to-end data governance solutions that fit each client’s unique needs. The firm’s data governance solution is designed to help clients achieve enterprise data accountability, reduce cost and mitigate risk.
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- Risk management, data privacy, legal and regulatory specialists who advise on and help implement policies, processes, role-based access controls and security measures
- Certified technologists to identify and inventory disparate structured and unstructured information sources, ensure consistent data quality across the organization and understand data lineage and flow
- Identification of privacy-implicated data within databases and business systems, such as PII, ePHI and CUI
- Data remediation and decommissioning of business systems, applications and underlying databases
- Obfuscation of sensitive data, such as anonymization, encryption, tokenization and masking
- Data scientists to implement advanced analytics and optimize technology platforms
- Expert witnesses and forensic examiners to validate data governance efficacy and defensibility
- Strategic alignment across compliance, corporate data goals and business needs
- Training and change management to ensure adoption, buy-in, enforcement and long-term program success
“Data governance is inherently complex given the vast and onerous regulatory requirements most organizations face today,” said David Turner, a Senior Managing Director and Co-Leader of the Data & Analytics practice within the Forensic and Litigation Consulting segment at FTI Consulting. “Our clients need clear guidance and an experienced partner to bridge the gaps between assessments, business units, regulations and technology solutions. We provide this by mapping an actionable framework that fits the client’s specific needs and operationalizing it in the most strategic and efficient way possible.”