–Gareth Shaw, Founder of Pera Prometheus Consulting Ltd
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My career has always revolved around keeping information safe. Now, as the founder of Pera Prometheus Consulting, I help organisations protect their valuable reputations and data. Today, I want to share some insights on Governance, Risk, and Compliance (GRC) in the UK, focusing on information and cyber security. This is a critical topic for any organisation handling sensitive data, yet it is often overlooked. Let us break it down in a way that is easy to understand.
1. What Is Governance Risk and Compliance (GRC)?
GRC is a structured approach to ensure your organisation operates responsibly, follows the law, and manages risks effectively. When it comes to information and cyber security, GRC is like a shield for your data. It helps protect sensitive information, ensures only the right people access it, and keeps it safe from loss or misuse.
In the UK, bodies like the Information Commissioner’s Office (ICO) and the National Cyber Security Centre (NCSC) set standards for secure data handling. GRC is not a one-time task, it is an ongoing process that evolves as laws, risks, and business needs change.
At Pera Prometheus, we believe GRC is about more than just ticking boxes. It is about building trust with your customers, partners, and regulators by showing you take data security seriously. As your Governance Risk and Compliance Consultant, we help you navigate this complex landscape with tailored solutions that fit your needs.
1.1 Governance
Governance is about setting clear rules and responsibilities to protect your data, systems, and networks. It answers key questions like:
- Who is in charge of cybersecurity (e.g., the Board, IT team, or a Security Manager)?
- What needs to be protected (e.g., customer data, payment systems, emails)?
- How will it be protected (e.g., policies, staff training, or security tools)?
Think of governance as the foundation for keeping your information assets safe.
1.2 Risks
Risks are the unknown potential threats to your business’s critical information or networks. By conducting appropriate Risk Management techniques we can identify our vulnerabilities (weak spots), in either the physical or cyber environment, that malicious threat actors could exploit. Poor Risk Management may well lead to financial loss, reputational damage, or disrupted operations. Identifying and managing these risks is essential.
1.3 Compliance
Compliance means following the rules and laws to keep your data and systems secure. In the UK, the ICO and NCSC provide guidance that businesses are expected to follow. Compliance shows regulators, customers, and stakeholders that you are taking the right steps to protect data. It is not just about avoiding fines, it is about proving you care.
2. Key Frameworks, Laws, and Compliance Requirements in the UK
Navigating GRC can feel overwhelming, but here is a simple overview of the key frameworks and laws in the UK:
- Data Protection Act 2018 and UK GDPR: Protects personal data. Requires secure storage, limited data collection, and breach reporting within 72 hours. Fines up to £17.5m or 4% of turnover.
- Network and Information Systems (NIS) Regulations 2018: Ensures cybersecurity for critical services (e.g., energy, health). Requires strong measures and incident reporting. Fines up to £17m.
- Cyber Essentials : Protects against common cyber threats. Recommends firewalls, updates, and access controls. Optional but key for contracts.
- ISO/IEC 27001: International standard for information security. Requires risk assessments and regular checks. Optional but builds trust, especially in tech, finance, and healthcare.
- ISO/IEC 42001: International standard for AI management systems. Ensures ethical, secure, and transparent use of AI. Requires risk assessments, governance, and compliance checks. Optional but increasingly important for AI-driven businesses, especially in regulated sectors. Builds trust and demonstrates responsible AI use.
- Payment Card Industry Data Security Standard (PCI DSS): Rules for handling card payments. Requires secure data and regular testing. Fines can exceed £100,000 monthly, with risks of losing card-processing rights.
- Governance Security Classifications: Applies to governance bodies and suppliers. Requires data classification, staff training, and secure cloud use. Risks losing contracts if not followed.
- Computer Misuse Act 1990: Laws against hacking and viruses. Requires system protection. Penalties include jail (up to 7 years) or fines.
- Sector-Specific Regulations: Extra rules for industries like finance (FCA – Financial Conduct Authority) or healthcare (NHS Digital). Penalties include fines or losing licenses.
3. Why You Need a Consultant?
Let’s face it, keeping up with GRC is tough, especially when you’re busy running your business. Even large organisations with dedicated security teams struggle to stay compliant, often due to a lack of specialist knowledge. For small and medium-sized businesses, having a dedicated team might not even be an option. However, if you operate in the UK, you still need to comply.
That is where a Governance Risk and Compliance Consultant comes in. At Pera Prometheus, we don’t just list regulations, we dive into your organisation, assess how you handle data, and create a tailored strategy to protect it. From developing robust policies to conducting risk assessments and compliance audits, we make GRC manageable.
Why does this matter? The ICO’s 2023-2024 report showed substantial amount of data breaches in the UK, many from simple mistakes like unencrypted emails or poor access controls. A consultant helps you avoid these pitfalls, offering expertise you might not have in-house. We have seen firsthand how businesses struggle to interpret legal jargon or prioritise risks. With a consultant, you are not guessing, you are staying ahead.
It is not just about avoiding fines. It is about peace of mind and turning compliance into a competitive advantage.
4. A Final Word from Me
Information security is not just a tech buzzword; it is the foundation of trust and resilience. GRC makes it possible, but it is not something to tackle alone. Getting expert guidance is not just helpful, it is essential. The right advice turns compliance from a chore into an opportunity.
If you are wondering how to protect your data or need a starting point, get in touch with Pera Prometheus. Let us secure your information the smart way and keep you on the right side of the law.
