What is third party risk management

Validate the information security practices of your vendors

More than half of all security breaches result from third-party vendors hired by your organization, so it’s critical that you identify the vendors working for you and determine the level of risk they bring. The easiest way to do this is by using vendor risk management software. Our VRM services help you to pinpoint the vendors that present the most risk to your organization—evaluating all third-party vendors based on the amount of potential impact they have on your organization.

How does Secure Shield approach VRM?

Armed with a standardized, risk-based scoring methodology coupled with a built-in remediation plan, Secure Shield will work to assist your vendors in correcting any security issues that arise in order to protect their organization and yours.

Inventory

Organizations can’t adequately determine their vendor risk without knowing who ALL of their vendors are. Building an inventory is a key first step.

Classification

Once organizations know who their vendors are, it’s important to classify them. Categorize the impact a vendor’s risk has on you so you can prioritize better. network scan.

Assessment

Once you understand who your high-risk and medium-risk vendors are, quantifying the risk that comes along with that vendor becomes crucial.

Risk Treatment

So you know all your vendors and the risk they pose. How do you want to handle it? Agree upon remediation efforts to help mitigate risk.

Questions?

TPRM Faq’s

What regulations require VRM

Several regulations & compliances require third-party vendor risk management.

  • CMMC
  • DoL
  • FDIC
  • HITRUST
  • HIPAA
  • ISO
  • OCC (US Office of the Comptroller of the Currency)
  • SOC II
What software do you use?

Secure Shield uses SecurityStudio for vendor risk management. This software platform employs S2Vendor to measure and manage the security risk of an organization’s vendors. executive leadership teams to understand goals, budget, and bandwidth—allowing them to provide actionable recommendations, or a roadmap, based on the business’s goals and the risk assessment’s findings. With the roadmap in place, they work with the organization’s internal security team to train staff and make the recommended improvements, improving the ability of the organization to protect its sensitive information and increase its operational efficiencies. Over time, they simply become a sounding board for the organization’s staff to bounce questions and challenges off of.

What is the Vendor Risk Management process?

We follow a process that includes:

  • Identifying vendors
  • Implementing policies and procedures
  • Internal departments identifying and classifying vendors
  • Self-assessments collected
  • Facilitated risk assessments conducted
  • Validated risk assessments conducted
How much does Vendor Risk Management cost?

We offer three different levels of vendor risk management services depending on your needs and the number of vendors. Contact us for a custom quote.

Secure Shield

Why work with Secure Shield

Expertise

Secure Shield has been in business for over 20 years, and our team has years of combined experience working in information security and boasts 30 different kinds of certifications. When it comes to building vulnerability management programs, you have the benefit of experience in your corner.

Mission

Our mission at Secure Shield is to fix the broken information security industry. The ultimate goal is to solve as many challenges as we can in your security environment. Ensuring your employees understand what different kind of attacks look like and how to avoid them is one way we can truly improve security and protect sensitive information within your organization.

Style

Our style isn’t “cookie cutter.” We recognize that each organization is different, and every security program is at a different stage of maturity. We get to know your security program intimately, identifying critical assets and conducting assessments to baseline your threat landscape. Then, we apply industry best practices to the findings to provide recommendations for building a strong vulnerability management program.

Focus

Information security is all we do. We don’t do IT, or sell hardware. We only do security. Because of this, our team can provide unbiased recommendations that will have a dramatic impact on the way you do security. We work hard to be a partner—collaborating with and educating your team every step of the way.

The landscape of vulnerabilities is evolving constantly and at a rapid pace. Hence, static one-time scans are not enough. At a minimum, organizations should be scanning quarterly. It is our stance that monthly or continual scans should be the ideal state for all organizations. Today most organizations are lagging far behind in this space. Our data concludes that less than half of organizations (48%) are scanning at least quarterly.

Lyle Melnychuk

CEO Secure Shield

Other Services

Our industry-specific expertise enables your business to streamline workflow and increase productivity. No matter the business, Secure IT has you covered with IT services customized to your company’s specific needs.

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Incident Response Preparation

When a critical incident hits – you can’t afford not to act swiftly and effectively. Secure Shield strives to deliver cybersecurity incident response plan services that will meet all of you needs in these tough situations and will leave you confident your incident was properly planned and handled. Secure Shield addresses multiple types of incidents, including those relating to technology operations, security, and for drills and business continuity tests – and, always with the same level of orchestration prowess and exceptional process efficiency.

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Our Cybersecurity Frameworks