WhiteHat Sentinel™ is a software-as-a-service platform that enables your business to quickly deploy a scalable application security program across the entire software development lifecycle (SDLC). By combining our scalable application scanning platform with the world’s largest threat research team, we identify where you are vulnerable with near zero false positives.
To fully appreciate the current state of strategic risk management and where it is headed, one must have an understanding of its journey. We outline that for you below from the viewpoint of managing supply chain risk.
As third party and vendor ecosystems continue to grow and expand, managing risk effectively becomes both a complex challenge and a critical necessity in today’s highly connected business environment. Below are are three ways that companies can begin to better manage and reduce third-party risks.
A Risk Management Information System (RMIS) is an essential component of the overall work platform for risk management functions within both mid-size and large organizations. Risk managers who are most adept at using the RMIS, along with a comprehensive work platform, not only achieve process efficiencies, but also are able to lower their Total Cost of Risk (TCOR) and provide better reporting to senior management.
This document introduces a unique approach from HPE SecureData that combines data encryption and masking technology in one, which can vastly simplify data privacy, while mitigating data leakage at a fraction of the cost of prior approaches. One fundamental technology is HPE Format-Preserving Encryption (FPE), which for the first time, allows encryption ‘in place’ in databases and applications, without significant IT impact. Another technology is tokenization, which replaces data with random tokens, and which can also preserve data formats. These technologies are integrated with masking techniques on the HPE SecureData Platform, allowing projects that once lasted months or years to complete in days to weeks.
The MetricStream Vendor Risk Management (VRM) App enables you to manage, monitor, and mitigate vendor risks efficiently and effectively. By integrating global vendors onto one cohesive framework, the app gives you complete visibility into vendor risks. The app also streamlines and standardizes vendor management processes, right from vendor on-boarding and risk profiling to ongoing vendor monitoring and oversight.
The number, complexity, and velocity of risks are increasing, and the speed at which these risks emerge means your organization has much less time to effectively respond. In addition, organizations are managing many different types of risks – like cyber, third party supplier, competitive and new products/service risks – within different business silos and assessing them using separate methodologies and measurements. Unfortunately, the current ad hoc risk management approach is overloading your resources and does not provide a consistent, real-time risk picture for your executive team.
In October 2015, RSA completed a global survey of almost 400 organizations to gather insight into current trends and perceptions regarding Risk Management. The survey utilized RSA’s proprietary Risk Intelligence Index to ask questions around key areas of risk and how organizations are addressing the changing risk landscape. The Risk Intelligence Index is based on the RSA Archer Maturity Model that measures organizations’ GRC program components across five stages of maturity.
The value of mature GRC capabilities can be summed up through another acronym—ABC: Aware, Bespoke, and Confident. And while these are not the only attributes of effective GRC, together these three offer the opportunity for greater success that most organizations have failed to grasp, at least up until now.
According to Deloitte Advisory Cyber Risk Services “the fundamental things that organizations undertake in order to drive performance and execute on their business strategies happen to also be the things that actually create cyber risk. This includes globalization, mergers and acquisitions, extension of third-party networks and relationships, outsourcing, adoption of new technologies, movement to the cloud, or mobility. And they are not going to stop doing these things any time soon. Cyber risk is an issue that exists at the intersection of business risk, regulation, and technology. Executive decision-makers should understand the nature and magnitude of those risks, consider them against the benefits a strategic shift would deliver and then make more informed decisions.”
When business operators use repeatable processes and unied software to manage risk and compliance, the benets are huge. Every part of the business becomes more agile, resilient, risk intelligent and condent. This illustration shows how to improve business processes, gain risk intelligence, and contribute to planning for performance.
Organizations must implement a cohesive risk management program to protect against loss while remaining agile to meet strategic objectives. RSA® Archer® can transform your compliance program and enable your organization to proactively manage risk by providing improved visibility, enabling better decisions to achieve business objectives with more predictable results.
Information technology risk teams know well that the scope of IT risks can be very broad – ranging from technical security risk, to IT operations risk, through to operational risk and enterprise risk. IT risk teams typically have deep skills in risk identification and analysis of information technology components, and many are also quite skilled in making recommendations on risk treatment options.
As with any major purchase, demonstrating the return on investment is key to getting the ultimate buyer to support the investment. Automating your risk and compliance activities can positively affect your company’s bottom line. You just need to prove it. Here are some insights to help you do just that.