Which compliance standards might policy and compliance team members need to understand?

Understanding compliance standards such as GDPR (General Data Protection Regulation) and HIPAA (Health Insurance Portability and Accountability Act) is crucial for policy and compliance team members because these regulations govern how organizations must handle and protect sensitive information. GDPR focuses on data protection and privacy for individuals within the European Union and the European Economic Area, while HIPAA sets the standard for protecting sensitive patient health information in the healthcare sector.

Both standards not only enforce compliance requirements but also impose significant penalties for breaches. Therefore, team members need a deep understanding of these regulations to ensure that their organizations comply with legal obligations, mitigate risks, and protect stakeholder interests.

In contrast, focusing solely on internal company policies would limit the scope of understanding important external compliance requirements. Prioritizing departmental relationships, while important for organizational efficiency, does not directly address the regulatory framework that governs data practices. General marketing regulations may also be relevant in some contexts, but they are not as universally critical as GDPR and HIPAA for organizations that handle personal and health information. Thus, knowledge of GDPR and HIPAA equips team members with the necessary tools to ensure comprehensive compliance practices are in place.