Last Monday, (9/30) at the LS-ISAO Annual Member Gathering, we had the privilege to help organize a panel about the importance of a legal specific set of controls to help manage your third-party risk management program. The session, “Creating an Industry Standard - A Collaborative Approach to Vendor Risk”, was moderated by Gary Brickhouse, VP- GRC Services at Guidepoint. The panelists included Jon Washburn, CISO, Stoel Rives, Katie Clare, CISO, Paul Hastings, Jeremy Phelps, Director- Information Security, Akin Gump, and Anders, CEO of ThirdPartyTrust.
The former CEO of Intel, Brian Kzranich said last month, “Data, I look at it as the new oil. It’s going to change most industries across the board. Oil changed the world in the 1900s. It drove cars, it drove the whole chemical industry,” Krzanich explains.
Topics: Vendor Risk Management
With growing executive demand for changes to cybersecurity processes and awareness comes inherent challenges to an organization. To set the stage, the NotPetya attacks on Moeller-Maersk shipping company took them offline for ten days. Jim Haggemann Snabe, the Chairman, describes the heroic efforts to get 45,000 PCs and 2,500 servers back and up and running (see video) proves that ransomware attacks or never before seen attacks can have tremendous impact on business operations.
Discussions on privacy laws have taken front and center in recent weeks as European Union (EU) member states begin enforcing the General Data Protection Regulation (“GDPR”) on May 25, 2018. As we have been discussing for a while, there is confusion as data collectors try to figure out the impact of this legislation. There is no question that large, multi-national corporations will have to comply and many of these corporations are already in compliance. However, with this deadline just around the corner, smaller companies that do not actively target EU residents are struggling with how this legislation impacts them.
Anders Norremo, CEO of ThirdPartyTrust, had the pleasure of moderating a panel at the OnRamp Insurance Conference on Thursday April 12th, 2018. The panelist included Mia Boom-Ibes, Fawaz Rasheed, Steve Timmerman, and Tammy Kocher. They all gave great insight to how cybersecurity is shaping the insurance industry.
We will explore questions surrounding the New York Department of Financial Services Cyber Regulation, next-generation technologies and the biggest needs from these organizations.
While the entire world is seemingly melting with the terrifying onslaught of the enforcement of the General Data Protection Regulation (GDPR…coming to a theater near you on May 25th, 2018) there remains a significant amount of mis-information, confusion, and utter chaos within some of the world’s largest corporations (HQ’d outside of the EU) and on social media regarding the continued use of trusted third parties in support of business operations…especially, those companies not too experienced with heavily regulated environments such as banking, insurance, and other financial services.
Hi, everyone. This is Jeff Spetter from ThirdPartyTrust and I had the great pleasure of speaking with Rocio Baeza, CEO of CyberSecurityBase. Here's a recap and audio of the interview.
Topics: Vendor Risk Management
Big thank you to Morningstar for hosting the recent OWASP meetup. The evening was filled with really informative content in a couple of areas all tied to OWASP.
Metrics drive the measure of progress and stand as benchmarks during any assessment, audit or review process. They are the life blood of reporting and when it comes to vendor risk management, it is not as straight forward as you might think. Let's take a deeper look into what Guy Dulberger of Ritchie Bros. has to say about the key metrics to track when assessing vendor risk and how a risk-based approach is the new norm for vendor risk management.
"I think an important aspect of what makes a great security report, KPI or metric is understanding your business and where your greatest orgnizational risk lies."
- Guy Dulberger, Information Security Executive
Topics: Best Practices
- How to start building a vendor risk management program
- Key vendor risk management metrics
- How to keep the vendor engaged after the contract has been signed
In Part 2, panelists answer audience questions. Including what constitutes a vendor and varying risk profiles for vendors.