Keep What for How Long? Essentials of Document Retention Policies

Overview: 

This presentation provides a detailed guide on developing clear information governance policies and procedures. The primary goal is to establish a corporate standard for data management, define uniform retention and destruction guidelines across business divisions, and manage data accessibility and disclosure.

The presentation begins by emphasizing the importance of retaining data and records to protect and maintain business operations, comply with regulatory requirements, and manage actual, threatened, or reasonably foreseeable litigation or dispute resolution. It outlines the need for a written policy on data management, retention, and destruction, highlighting key considerations such as understanding who the data record holders are, where records are maintained (onsite, offsite, or cloud), and when business or regulatory obligations may trigger destruction.

One of the critical aspects covered is the establishment of a data classification and identification system to facilitate ease of administration and protect sensitive information. The presentation also addresses the importance of understanding litigation and dispute retention obligations, ensuring that data is retained as required to support legal and regulatory compliance.

Additionally, the presentation provides an overview of policy development, including the need to understand the various formats in which records are maintained and the triggers for data destruction. It emphasizes the importance of a comprehensive approach to data management, ensuring that all relevant stakeholders are involved in the policy development process.

Overall, the presentation serves as a valuable resource for organizations looking to develop and implement effective document retention policies. It provides practical guidance on establishing clear information governance procedures, ensuring compliance with legal and regulatory requirements, and managing the lifecycle of documents within the organization

Course Objective: 

• Establishing a Corporate Standard: The presentation aims to establish a corporate standard for data management, ensuring consistency across the organization.
• Define Retention and Destruction Guidelines: It defines uniform retention and destruction guidelines that apply across different business divisions.
• Manage Data Accessibility and Disclosure: The presentation focuses on managing data accessibility and disclosure to protect sensitive information and ensure compliance with legal requirements.
• Identify Data Storage Locations: The presentation highlights the need to understand where records are maintained, whether onsite, offsite, or in the cloud, and in what format.
• Establish Data Classification Systems: It advocates for the establishment of data classification and identification systems to facilitate ease of administration and protect sensitive information.
• Ensure Compliance with Legal and Regulatory Requirements: The presentation underscores the importance of retaining data and records as required to comply with regulatory requirements and manage litigation or dispute resolution.
• These objectives help organizations develop and implement effective document retention policies, ensuring compliance and efficient data management.

Target Audience: 

• In-house counsel 
• compliance officers 
• Document Management Professionals

Basic Knowledge:

no prior knowledge required