Today’s dynamic international environment demands that companies pursue full compliance in every market where they operate. Nancy Cremins, who is chief administrative officer and general counsel for Globalization Partners, shared her thoughts on the strategies businesses need to protect their data and keep up with regulations wherever they operate.
Hear more from Cremins at the 2018 Bloomberg Law Leadership Forum on May 23 in New York, where corporate counsel from Fortune 500 businesses and leaders from top law firms will gather to discuss trends in trade, regulation, and technology.
What is the most critical issue your organization faces in today’s regulatory environment?
In the global employer of record industry, the most critical issue we face—and always will face—is keeping on top of the rapid evolution of international law, and any adjustments we need to make to ensure that we are delivering a compliant solution for our clients and end professionals. As with many companies, one of the critical issues we face is ensuring compliance with the European Union’s General Data Protection Regulation, which goes into effect May 25, as well as with evolving data protection legislation around the globe.
What are your primary concerns about the impact of cybersecurity and the threat of data breaches on your organization?
One of our primary obligations as an international employer is ensuring that the incredibly sensitive HR data we gather and retain is properly safeguarded by technological measures and by the people in our organization who are handling such information. Our company built its own platform for housing our international HR data using privacy-by-design principles to ensure both compliance with our data privacy obligations and integration into our business systems. The protection of data is a cross-functional responsibility that includes collaboration among the legal, IT, finance, and service delivery teams in order to minimize threats to the data we hold.
What opportunities or challenges does the changing regulatory matrix present to your organization in the areas where you operate?
We see opportunity from a business standpoint. That said, we are focused on ensuring compliance in each country where we do business. The natural challenges therein are keeping up with labor and employment law in every jurisdiction, understanding and staying in compliance with local tax structures, and staying on top of the evolving licensing requirements by jurisdiction, just to name a few.
For the 4th year, the Bloomberg Law Leadership Forum is the premier event for legal industry leaders to gain insights and discuss how global economic and regulatory changes impact their business. Globalization Partners is a sponsor of this year’s event.
The 2018 Forum features an update on current regulatory priorities, a look at where corporate risk is rising, and an exploration of the technology and management tools legal counsel need to respond effectively.
Click here to request an invitation to the 2018 Bloomberg Law Leadership Forum.
Leadership Forum Speakers Include:
- Chairman Jay Clayton, U.S. Securities and Exchange Commission
- Deputy Attorney General Rod Rosenstein, U.S. Department of Justice
- Marcy Cohen, Managing Director and Chief Legal Officer, ING Americas
- Noah Perlman, Global Head of Financial Crimes, Morgan Stanley
- Katherine Choo, Chief Investigative & Anti-Corruption Counsel, GE