CYBERSECURITY ANALYSIS - LEVEL 1
The Cybersecurity analysis, prepared by Venminder staff CISSPs, will cover the 5 most critical elements of your vendor’s Cybersecurity preparedness as it relates to the product or service you buy from them. The review will identify areas of potential weakness which, in turn, enables your risk mitigation by either influencing your vendor to strengthen their controls or by supplementing their controls with controls of your own. We’ll look at items such as penetration testing practices/results, sensitive data security, employee/contractor/fourth party access, incident detection/response and cybersecurity insurance coverage.
SecurityScorecard performs continuous monitoring of all registered IP addresses for your vendor and identifies known vulnerabilities non-intrusively.
What is SecurityScorecard? SecurityScorecard continuously monitors for changes in security risk of the vendors you choose to track. Scoring is calculated by looking deeply into 10 security categories and factors: Web Application Security, Network Security, Endpoint Security, IP Reputation, Social Engineering, Hacker Chatter, DNS Health, Cubit Score, Patching Cadence, Password Exposure
Cybersecurity was brought to the regulatory forefront when the Obama administration created a Cybersecurity task force. Additionally, the FFIEC released its cybersecurity assessment tool. Cybersecurity is a regulatory hot button and you need someone with seasoned experience to analyze your third party’s cyber stance.
In today’s world of increased outsourced risk and heightened regulatory scrutiny, third party risk management is outgrowing the capacity of existing resources at most financial institutions.
The internet of things along with the rapid movement to the cloud necessitates a whole new set of qualifications when assessing vendor risk. Additionally, the sheer volume of assessments, documentation and reporting that is required on all levels of third parties requires an efficient and organized system to properly manage it all.
The perfect solution combines the qualified experts with a robust software platform to ensure your third party risk program meets regulatory requirements and produces excellent exam results. That is what Venminder delivers!