Regulatory Risk Management Office

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Practice 01

Regulatory Risk

Management Office

A combined Security, Privacy, and GRC managed service that runs your regulatory function on an ongoing basis — built for regulated insurance entities.

What we deliver.

overview

Regulatory Assurance is not an overhead function. It is a cost-control mechanism that operates your cybersecurity governance, privacy, regulatory compliance, and audit readiness on an ongoing basis. Designed specifically for regulated insurance organizations — carriers, MGAs, and the holding entities behind them — it establishes regulator-grade security and compliance from day one and scales non-linearly as you add entities.

— Managed Security Office — Fractional CISO, NYDFS 23 NYCRR 500 / NAIC compliance, cyber risk management, incident governance

— Managed GRC Services — Program operations, control execution and evidence, audit and regulator readiness, framework mapping

— Managed Privacy Office — Fractional Privacy Officer, data use and purpose governance, privacy risk and incident leadership

— Regulator engagement — DOI, AG, and exam support with defensibility artifacts, not just control checklists

— Predictable fixed-fee model — Tools and platforms included; no per-ticket or hourly billing

— Replaces $1.2M+ in typical internal staffing and tooling with a single operating-level function

The Financial Case

Cybersecurity and privacy failures
now carry direct, material regulatory cost.

Ongoing Regulatory Assurance lowers both the probability and cost of cyber
incidents — it isn’t an overhead function.

$19M+

in penalties to insurers for failures to meet cybersecurity standards under 23 NYCRR Part 500.

$13M+

in fines levied on insurance companies for data breaches resulting from weak cybersecurity safeguards.

15-30%

in cyber-insurance premium reductions for organizations demonstrating a strong GRC apparatus.

Three Pillars

One operating model. Three coordinated functions.

Security, GRC, and Privacy operate as separate disciplines with separate accountabilities — but share a single program rhythm and one regulator-facing posture.

Pillar 01

Managed Security Office

Cybersecurity governance, regulatory accountability, and incident leadership — without operational noise.

Fractional CISO leadership

Named CISO support (where permitted)
Cybersecurity strategy and roadmap
Risk appetite definition
Executive and board reporting
Regulator engagement and certifications

Regulatory cyber compliance

NYDFS 23 NYCRR 500
NAIC Insurance Data Security Model Law
State DOI cybersecurity requirements
Ongoing compliance tracking and reporting

Cyber risk management

Annual enterprise risk assessment
Risk register and remediation planning
Third-party cyber risk oversight
Documented risk acceptance decisions

Incident governance and oversight

Incident response plan and playbooks
Annual tabletop exercises
Incident command leadership for material events
Regulatory notification management
Post-incident review and remediation tracking

Pillar 02

Managed GRC Services

Always-on compliance with clear ownership, evidence, and accountability.

GRC program operations

GRC program and platform administration
Maintain control libraries and framework mappings
Monitor regulatory changes and update controls
Ensure consistency across entities

Control execution and evidence

Coordinate control execution schedules
Collect and validate evidence
Perform control testing
Track deficiencies and remediation
Maintain audit-ready documentation at all times

Audit and regulatory readiness

Support internal and external audits
Prepare regulator and auditor evidence packages
Coordinate walkthroughs and interviews
Track and close audit findings
Support regulatory exams and inquiries

Framework coverage

NYDFS 23 NYCRR 500
NAIC Model Audit Rule
NAIC Insurance Data Security Model Law
Internal control frameworks as required

Pillar 03

Managed Privacy Office

Executive ownership of how personal data is used, shared, and defended — independent of security and compliance.

Fractional Privacy Officer leadership

Decision authority for privacy-related matters
Privacy obligations interpretation
Documented approval, rejection, or risk acceptance for data use cases
Executive escalation point for privacy risk decisions

Data use & purpose governance

Evaluate proposed data use across underwriting, claims, marketing, analytics, and AI
Permissible-use determination, purpose alignment, reasonable expectations
Secondary use, enrichment, and sharing governance
Retention and deletion tied to business purpose

Privacy risk & incident governance

Assess potential consumer harm, regulator reaction, and reputational impact
Breach response from a notification and defensibility perspective
Disclosure obligations and regulator engagement strategy
Align decisions with legal, communications, and executive leadership

Regulatory & audit defensibility

DOI, AG, and privacy regulator inquiry preparation
Rationale for privacy decisions in regulator-safe language
Decision records and defensibility artifacts
Audit support that explains intent, judgment, and governance

Deliverables & Cadence

A fixed rhythm across Security, GRC,
and Privacy.

Predictable, scalable, and regulator-aligned — delivered on a fixed cadence with event-driven escalation when needed.

security

GRC

Privacy

One-time / Onboarding

InfoSec program charter, CISO role definition, initial risk and gap assessment, incident response plan

GRC platform configuration, control matrix and ownership baseline, compliance calendar

Privacy decision authority and escalation model, enterprise data-use orientation, privacy decision roadmap

Monthly

Cyber metrics and risk register updates, third-party risk tracking, incident log review and status reporting

Control execution tracking, evidence collection and validation, issue and remediation tracking

Review and disposition of new or changed data uses, executive privacy guidance, privacy decision summary

Quarterly

Executive report on roadmap, posture, trends, incident readiness; security awareness training and simulations

Control effectiveness summary, audit and exam readiness assessment, open-issue reporting, management certification support

Executive or board-level privacy briefing, privacy risk and decision-trend analysis, scenario-based privacy discussions

Annual

Enterprise cyber risk assessment, regulatory compliance attestation, incident-response tabletop, strategy and roadmap refresh

Annual control testing and compliance report, policy review and approval cycle, training completion and attestation

Privacy-governance effectiveness assessment, regulatory and enforcement readiness confirmation, privacy strategy refresh

Event-Driven

Incident response coordination and leadership, regulatory notification packages, post-incident remediation

Regulatory inquiry response support, audit request list coordination, targeted control remediation plans

Lead privacy decisions for incidents and breaches, support DOI/AG inquiries, advise on major business changes

approach

How we work.

Managed Service model

Regulatory Assurance is delivered as an ongoing managed service, not a project. We operate your cybersecurity governance, GRC, and privacy functions on a fixed monthly cadence — establishing regulator-grade posture from day one and scaling non-linearly as you add carriers, MGAs, or holding entities.

You get fractional CISO and Privacy Officer leadership where permitted, plus a senior team behind them executing the program rhythm. There is no per-ticket or hourly billing — pricing is a fixed monthly fee inclusive of tools and platforms.

Onboarding takes one quarter. From month two onward we run the program: monthly metrics and remediation tracking, quarterly executive briefings, annual control testing and strategy refresh, and event-driven incident command when material events occur.

— Fixed monthly fee, tools included

— Fractional CISO and Privacy Officer (where permitted)

— Centralized accountability, decentralized execution

— NYDFS / NAIC / state DOI alignment by default

— Scales across multiple entities under one program

— Event-driven incident leadership when needed

Next Practice

Salesforce Value Optimization

Insurance-focused, solution-oriented Salesforce work — repositioning the platform from CRM to enterprise foundation across underwriting, claims, distribution, and service.

Ready to talk about
regulatory?

A 30-minute introductory call. No deck, no pitch.

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