How to save time and money complying with growing regulation

Compliance with digital regulations is becoming increasingly complicated. As governments enact stricter laws to govern digital data's sensitive handling and security, organizations face a stark choice: comply or suffer severe penalties.  

Amazingly, nearly 20% of businesses have no formal policies to secure their data, according to a recent report. Since mainframes secure nearly 80% of all corporate data (and 90% of all credit card transactions), their role in regulatory compliance is paramount. As Security Architect Rainer Barthel aptly noted, “Mainframe has the crown jewels, so it is the most important part to protect.” 

So, how can security and compliance managers streamline their efforts and resources to meet an ever-expanding list of regulations — including DORA, PCI DSS V4, NIST Cybersecurity Framework, and Cybersecurity Maturity Model Certification (CMMC) — alongside long-standing regulations such as GDPR, HIPAA, SOX, and FIPS?  

Can audit compliance transform from a disruptive chore into a catalyst for growth? In my experience, the answer is “yes” to the latter and three actionable strategies to the former. Let’s examine both.  

Mainframes are the most secure platform ever built. But they are not impervious to cyber threats, internal attacks, and regulatory pitfalls. Effective policies and comprehensive security solutions are essential to secure the platform while complying with regulations, both global and local, as highlighted in our latest ESG report. 

Sadly, many compliance managers lack a comprehensive understanding of their data landscape. Consequently, it is challenging to organize their mainframe data to meet auditing best practices, which increases their risk exposure. At Broadcom, we are partnering with clients in three key areas to not only pass a compliance audit but significantly reduce the amount of time and resources needed to fulfill those audits and maintain compliance.  

1. Create a clear compliance strategy. The first step in achieving compliance is understanding the frameworks and regulatory requirements you must meet. Preparing for a Compliance Audit is an ideal way to find gaps and weak spots in your cybersecurity program related to those requirements. Tools such as Broadcom’s Security Insights or Continuous Monitoring Workshop help you define your strategy and prepare for both internal and external compliance audits. 

2. Embrace comprehensive compliance management. Security must be a cross-enterprise endeavor requiring a full view of your entire IT environment—the mainframe very much included. Comprehensive management is critical for keeping costs low while simplifying regulatory compliance processes and audits. To do this, enterprises must implement automated compliance solutions, such as Broadcom’s Compliance Event Manager And Auditor.

3. Establish privileged control. Keeping track of who can and can’t access the mainframe’s massive amount of data can be a major challenge. IT teams must work closely with business units and human resources to understand who needs access to specific classes of data and when. Software such as Broadcom’s Trusted Access Manager for Z can control and monitor all activity performed by privileged accounts based on business needs and evolving user roles.

Compliance should foster business growth not disruption. When done well, it can build a stronger business, while reducing the risks of noncompliance. The fact is organizations that proactively comply with the growing landscape of regulations are among the most trusted in the world. This trust always results in higher brand equity and greater customer retention. In that way, regulatory compliance is nothing short of priceless. 

To learn more, join us on BrightTALK, read our definitive hybrid IT compliance guide, contact a friendly neighborhood Broadcom expert, or reach out to me on LinkedIn. Thank you.