Data Protection

The Data Protection Officer (www.dataprotectionofficer.ie) is led by Declan Monaghan whom is a Certified Data Protection Officer (CDPO) as well as a Chartered Risk Analyst (CRA), a Certified Public Accountant (CPA), a Certified Tax Adviser (CTAX), a Qualified Financial Adviser (QFA), a Credit Union Governance Adviser (CUG), a Credit Union Adviser (CUA), a Credit Union Compliance Officer (CUC). The Certified Data Protection Officer designation enables our firm to operate in the complex environment of data protection with current knowledge to fulfil our fiduciary responsibilities of ensuring ethical and legal compliance in the specialist area of Data Protection.

Today more than ever, data protection is centre stage in the Credit Union sector of all sizes. As Credit Unions deal with rising regulatory costs and increasing regulations the sector places an ever increasing role on compliance. Data protection is becoming more and more of a concern to Credit Unions, Financial Institutions and organisations for the following reasons.

• GDPR will introduce possible large fines of up to €20 million euro
• Current Possible criminal offences
• Claims for damages and compensation
• The possibility of facing an enforcement notice or prohibition notice
• Negative publicity and possible public publication of your case study where a breach occurs
• The massive amount of regulatory change organisations are facing by the introduction of GDPR in spring 2018
• Increasing Data Protection Compliance and Risk Costs