In today's world of connected threats, cybersecurity is a market differentiator and key business enabler. Leaders must now address increased responsibility amid quickly evolving, enterprise-wide challenges.
Organizations attempting to respond to this complex environment often face or create additional challenges due to poor people, process, and technology decisions. Separations in both organizational boundaries, SOC shift structures, and integration and automation of processes inhibit collaboration and prevent rapid containment and resolution of cyber events.
Success in today's dynamic business environment requires organizations to manage and comply with policies, standards, and controls. This is true across the business, but is particularly true in the context of IT governance, risk management, and compliance (IT GRC).
It's no news to CISOs, Chief Compliance Officers, Procurement Officers, GCs, and other key stakeholders in vendor management programs that third parties today represent one of the greatest risks to organizations, nor is it news that that the focus on vendor risk management is only increasing as regulators across a broad spectrum of industries and geographies continue to tout the importance of 1) managing risk throughout the vendor lifecycle, and 2) taking a risk-based approach to focusing due diligence efforts on those business partners who represent the most risk.
A leading Fortune 50 Health Care organization manages their comprehensive large-scale supplier assessment program with Rsam; harmonizing data points from 18 risk & stakeholder organizations to optimize the full supplier lifecycle.
Companies often find themselves struggling to comply with increased third party risk management program regulations because of the difficulties in obtaining timely and insightful information and the complexity of consistently translating that information into risk decisions aligned with corporate risk appetite. But with a simplified approach to compliance—one that includes narrowing focus, enabling lifecycle management, and leveraging technology and analytics—third party risk management can be an integrated function of your business, and not just a cost of compliance. In this Business Insight, Drew Wilkinson discusses the important issues about third party risk management.
The correlation between data breaches and third party service providers has demonstrated the importance of securing your entire enterprise. Unforeseen risk vectors from third parties can have damaging results, and they become exponentially more threatening as networks continue to integrate and entities have access to networks, terminals, and servers. Third parties are the number one security risk to financial services firms in 2015.
To thrive in business today, you need to do more than meet the challenges in front of you. You need to anticipate the future, act decisively and invest wisely to achieve long-term success. Booz Allen is laser-focused on enabling our clients to succeed. Our dedicated teams understand business imperatives, combining in-depth industry knowledge with operational expertise.
The client needed a vendor risk management system that would enable and support compliance with OCC guidelines. MetricStream's solution was the ideal fit as it offered the flexibility to assess vendor risks based on a "3-pillar" approach which had been validated by the OCC.
The Third-Party/Vendor Risk Management Survey conducted by RMA in association with MetricStream drew responses from more than 100 financial institutions across the globe. The survey addressed some of the key areas of vendor governance, including vendor management frameworks, vendor selection and monitoring processes, critical vendors and critical activities, tools and techniques in vendor management, contracts management, regulatory compliance, and fourth-party suppliers.
The MetricStream Vendor Risk Management (VRM) App enables organizations to manage, monitor, and mitigate vendor risks efficiently and effectively. The App streamlines and standardizes vendor management processes, right from vendor on-boarding and risk profiling, to ongoing vendor monitoring and oversight. The App also integrates global vendors into one cohesive framework for complete visibility into vendor risks.
Web application firewalls protect data and applications against online threats. Because Web application firewalls are strategic, every organization must carefully evaluate their security, management, and deployment capabilities. This paper explains in detail the 10 features that every Web application firewall must provide.
What are the emerging cyberthreats that companies should be most concerned about? How do you overcome the organizational barriers that inhibit IT security? Read the "2015 Cyberthreat Defense Report" to learn what matters most to the over 800 North American and European IT security decision makers surveyed.
Practical applications for Big Data have become widespread, and Big Data has now become the new "prize" for hackers. Worse, widespread lack of Big Data security expertise spells disaster. These threats are real. This whitepaper explains common injection points that provide an avenue for attackers to maliciously access database and Big Data components.