Data & Security Protection | Palomar Advisors

Security & Data Protection Overview

Practice Area Overview

The Challenge

- Can you demonstrate your data protection protocols?

- Do you have appropriate user access controls and historical logs?

- Have you completed a software penetration test with a 3rd party?

Major clients, partners, and potential acquirers will likely inspect your firms ability to protect sensitive data. Unfortunately, failure to demonstrate proper data and security protection is a common reason that success events fail. Business leaders often assume their company has appropriate levels of protection but they don't invest in a review. When a success event approaches, failure in this area can either kill a deal or significantly impact the economics of a transaction. In many cases, you will need to prove that you have met security expectations through producing historical log files.

Companies should invest time now to verify their protocols will meet the required standards and identify any potential concerns. This will allow plenty of time to address gaps well before you face a critical success event.

The Benefit

As a result of engaging with Palomar and our partners, you will have a clear picture of your ability to pass a data protection and security review. The process will help business leaders understand the types of questions that will likely be asked and how well your company will be able to perform.

The process will include a specific set of actions to remediate any concerns and plan for solutions to enhance your data protection and user access security processes.

Engagement Overview

Discovery

Step 1

Palomar will spend time learning about the business, the relevant leaders on the team, and any products related to the engagement.

We will request material to review in advance to help us gain necessary understanding of the business.

Then we will conduct interviews either in-person or virtually to meet with relevant team members and discuss the topics related to the engagement.

Recommended Action

Step 2

Palomar will provide detailed feedback based on their extensive experience and as a result of the Discovery Phase. the feedback will include specific areas of strength as well as opportunities for improvement. Where possible, we will also include comparisons to the industry or other best-in-class companies as a benchmark.

In addition to the feedback, Palomar will provide a detailed set of recommended actions to address the opportunities identified during the engagement. The action plan will be prioritized by potential impact to the business as well as the timeliness of the recommended action.

The Findings and Recommendations Report will be provided in a presentation format. We can deliver the presentation to the necessary team through an in-person or virtual meeting where we can share the information and field any relevant questions.

Implementation

Step 3 (optional)

Palomar will work with the key stakeholders to align on prioritized action steps resulting from the Findings & Recommendation Report. We will then develop a detailed Implementation Plan through joint ownership. Once the plan is finalized it will include commitments, ownership, and timelines.

Then we will partner with key stakeholders to implement action steps and install appropriate success metrics.

Palomar Advisors can facilitate through different roles in the Implementation Process:

PA develops Implementation Plan in collaboration with client Co-Owner.
PA remains as an active advisor during the implementation process.
PA is fully responsible for managing the implementation process with key stakeholders.