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THE RISK ASSESSMENT: THE COMMON DENOMINATOR FOR PRIVACY AND SECURITY COMPLIANCE

ABSTRACT In the words of Ferris Bueller, “life moves pretty fast. If you don't stop and look around once in a while, you could miss it.” Although this quote is from the iconic 1980s movie, Ferris Bueller’s Day Off, its application to risk assessments is apropos. A risk assessment enables a person to “stop and look around” on an annual basis to make sure that technical, administrative and physical safeguards are not missed. New NIST guidance underscores the importance of risk mitigation in relation to both privacy and security by highlighting the role of the risk assessment in relation to both legal requirements and best practices.