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.
GRC Capabilities and Success Stories from multiple vendors. Features ESRM Service offerings, GRC Exeprtise and implementation success stories with MetricStream and RSA Archer.
Technology is a powerful force, enabling efficient corporate enterprise growth when properly employed. The pace of "new" continues to accelerate, posing both new opportunity and possibly massive disruption within our established systems and data. As in the case with other change elements—environmental, political, legislative— savvy corporate boards will have the pulse on emerging technology and a view as to when is the ideal timing to drive adoption for maximum benefit without wasting limited capital. Following are seven questions proactive directors should consider when "talking tech" with their management teams.
Client Organization [hereafter referred to as "the Bank"] was launched in 2007, as the investment banking arm of the largest bank in Kingdom of Saudi Arabia (KSA), to provide investment banking services to individual, institutional and corporate clients in the KSA. Underpinning this ethos is a fundamental belief that combining innovation with solid best practice service and execution will ensure that the Bank continues to be a first choice provider in its areas of strength.
Active governance goes beyond general oversight to ensure alignment and interlock strategy, through policy, procedures and roles in the operational fabric of the organization and carries through to suppliers, customers and third parties. By starting with these core aspects of active governance, you are in your way to creating a competency of proactive risk intelligence in your organization.