Compliance and data protection: Impact on reputation underestimated

Compliance and data protection are a top priority at banks, chemical and pharmaceutical companies. Correspondingly, adequate resources are provided there. However, a survey conducted by the Zurich School of Economics (HWZ) and the law firm Bratschi AG has shown that the construction, mechanical engineering, and health and social sectors still have some catching up to do. People from 84 companies took part in the survey, which takes a close look at the importance of compliance and data protection in Swiss companies.

Correlation between sales and job percentages

According to the survey results, nearly 50% of the companies have only one full-time compliance position, with higher revenue directly correlated to more full-time positions. Up to CHF 100 million in sales, 75% have only one full-time position. With company sales of CHF 1 billion, 80% of companies have at least two to 50 full-time positions. In the area of data protection, 75% of the companies have only one full-time position: Only with sales of more than CHF 1 billion does the size of the data protection department increase significantly.

Anchoring compliance and data protection even more firmly

According to Dr. Christian Wind, partner at Bratschi AG and lecturer at the HWZ, compliance and data protection must be positioned and anchored much more strongly and, above all, more comprehensively in companies, not least because they protect the company's reputation in the long term. Dr. David Wicki-Birchler, head of the CAS Data Protection Officer course at the HWZ, notes: "Compliance and data protection are perceived and implemented differently depending on size and industry. Compliance already seems to be better anchored in the consciousness of companies than data protection. Business ethics aspects are clearly gaining ground and require action-oriented competencies".

Specific training

Around 75% of compliance officers have a university degree. Around 30% have completed specific further training in the area of compliance. In the area of data protection, the level of education is somewhat lower than in compliance. Just over 60% have a university degree and slightly fewer than 25% have completed specific further training in data protection.

At the HWZ, part-time courses are offered in which students learn in a practice-oriented manner how to better protect their company and competently position it for the future. The lecturers teach how to redesign operating models in such a way that compliance & digital security bring strategic advantages. In addition to the banking environment, SMEs and large companies in other industries are also subject to regulations. Topics such as cyber security, cyber risk, compliance management, data protection and data security are covered in depth in the continuing education courses. With the recognized degrees of the HWZ in the areas of Compliance & Digital Security, students qualify with a Master (MAS) or a certificate or diploma program (CAS, DAS).

Source and further information: www.fh-hwz.ch