Synthetic Data for Compliance Officers

Synthetic Data for Compliance Officers

The Compliance Officer is responsible for the adoption of applicable rules and legislation within the organisation. While achieving this goal, the Compliance Officer typically faces various pains that could potentially be solved with Synthetic Data. This blog describes the role of a Compliance Officer, indicates typical pains together with the gains that could be achieved with Synthetic Data.

The Compliance Officers job includes

Guide and advise in the adoption of rules and legislation with the organization

Advise on (technical) solutions to increase or achieve a higher level of compliance

Record, implement and monitor data processing activities

Identify and flag compliance issues for inspection and mitigation

Report compliance violations to relevant authorities

Typical pains that Compliance Officers face

As compliance officier, you are often seen as the bogeyman 

Lack of interest in rules and regulations within the organization (and understanding)

Limited understanding of IT, data and technology in a fast moving environment

Raising tough issues to the board, such as legal (e.g. GDPR) incompliance and data breaches

One has hardly any good solutions for data / privacy challenges, typically resuling in a lot of paperwork

How could Compliance Officers gain from using Synthetic Data?

Transform from innovation obstacle to innovation enabler

Achieve a higher level of compliance within the organization

Deliver good news to the board of directors

Implement new technologies to enforce compliance with data protection rules

Improve the relation (and become friends) with the rest of the organisation

Interested?

Explore the added value of Synthetic Data with us