Operationalizing Third Party Cyber Risk Management

When it comes to keeping up with an organization’s critical threats, it’s important to have visibility into your third parties. Traditionally, organizations have relied on risk ratings to keep track of the security posture across their shared third-party network and identify where they may be most vulnerable. Useful as they are, however, risk ratings have their limitations. Users have difficulty deploying and wrapping an efficient process around them. Just trying to keep up with vendors and services in-house is time and resource-intensive. Even outsourcing yields little payout from ratings alone if your organization lacks the program to act on the information. So how do you effectively “get good” at-risk scores and extract the real value behind them for your business? Enter the Risk Operations Center (ROC), staffed with cyber security experts who curate alerts to evaluate potential risk to your third-party ecosystems. ROCs can continuously assess and rate risk posture, prioritize and mitigate critical concerns, and effectively keep up with an evolving threat landscape. Unfortunately, ROCs are difficult to create and maintain, which is why enterprise solutions have been created to lower the barrier to entry for organizations that want to leverage these benefits. This webinar will explore how a Risk Operation Center effectively operationalizes security ratings by: ● Creating and utilizing ratings for continuous monitoring ● Validating ratings with expert oversight ● Modifying ratings based on an organization's tailored risk appetite