Pci Dss Compliance For Merchant Portfolios

Pci Dss Compliance For Merchant Portfolios

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Founded in 1986, o ne o f the nations leading providers of senior healthcare has been in steady growth mode for years as the U.S. population ages. The enterprise today operates a branded network of facilities covering nearly half the United States. The period that saw this rapid expansion was also a period of expanding regulations affecting the healthcare industry. Being a healthcare provider means that the enterprise must comply with a number of regulatory requirements, from HIPAA to PCI DSS, as well as complying with the separate privacy laws of every state in which it operates. As a for-profit business entity, the enterprise also must balance compliance with proper risk management to achieve a fiscally responsible level of compliance. Achieving that balance was made more complex by the fact that the enterprise had grown largely through acquisitions, which left it with heterogeneous systems and processes rather than a single IT platform. In 2010, this provider began seeking a partner that could assist it with enterprise-wide governance, risk, and compliance (GRC). It selected ANX as its strategic partner, and launched a major GRC project that is underway today.

Objectives and Approach

The provider engaged ANX to accomplish two primary objectives: to build and operationally execute an effective GRC program, and to implement technology to manage the program across a complex IT infrastructure. ANX consultants are spending a year, with tapering involvement over time, to develop and execute the GRC program within the TruComply framework. TruComply assists with key elements of GRC in that it:

Identifies all applicable regulations, translates them into common controls, and automatically monitors updates

Performs periodic assessments/audits to identify control deficiencies and prioritizes them with a consistent risk methodology

Manages remediation activity and charts progress towards business objectives
At the end of the initial year, TruComply will continue to work within t he prov iders IT infrastructure to identify new requirements, translate them into common controls, and continuously track remediation against business objectives to ensure an optimum balance of compliance and risk management.

About TruComply

Effectively managing security, risk and compliance is about more than simply auditing a list of controls. It also means understanding your security posture and recognizing how risks impact your processes and business o bject iv es. TruCom plys unique com binatio n o f ex pert suppo rt and flex ibility enables !NXs solution to grow with an organization scalable sophistication. Organizations begin by focusing on a specific regulation or standard and leverage data collection from earlier assessments for future expansions. After addressing an immediate regulatory need within TruComply, the organization has a significant head start on additional regulations or standards.
With TruComply, clients can:

Simplify your compliance management program by automating assessments/audits

Access the Unified Compliance Framework (UCF) and report against over 550 compliance and
industry standards

Develop or import custom standards that are specific to your business requirements

Increase the visibility of risks to make sound business decisions

Reduce the total cost of ownership with no hardware, software, or maintenance costs

About the Author:
To know more about GRC Software and Compliance and Risk Management check out ANX website
www.anx.com



Article Originally Published On: http://www.articlesnatch.com


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