Third Deadly Sin: Not measuring and reporting risk and risk outcomes

Posted by RiskRecon on Oct 18, 2018 8:00:00 AM

 

We’re running a blog post series on the “Seven Deadly Sins of Third-Party Cyber Risk Management;” here’s the third deadly sin, which is not measuring and reporting risk and risk outcomes.

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Topics: Vendor Risk Management, Vendor Security, Third Party Risk

Lockpath and RiskRecon Further Partnership to Increase Third-Party Risk Visibility

Posted by RiskRecon on Sep 18, 2018 11:31:11 AM

 

Lockpath, a leading provider of integrated risk management solutions, today announced the availability of the integration between its award-winning Keylight Platform and RiskRecon, a SaaS-based third-party cyber risk monitoring solution that delivers objective insights into third-party security performance and IT landscape. This product integration aims to enable precise, efficient reduction and elimination of organizations’ most critical third party security gaps.

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Topics: Vendor Risk Management, Vendor Security, Third Party Risk

RiskRecon Advisor Yong-Gon Chon Shares Cybersecurity Tips

Posted by RiskRecon on Aug 30, 2018 2:56:12 PM

 

In a recent article in the ABA Journal, noted cybersecurity expert and RiskRecon Advisor, Yong-Gon Chon, shared his thoughts on what law firms can do to bolster their cybersecurity. In particular, Chon suggests learning from other industries. For example, law firms can look to financial institutions, which have long struggled with protecting data as required under the Gramm-Leach-Bliley Act, he said. Data protection is key.

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Topics: Vendor Risk Management, 3rd party risk management, risk measurements, Vendor Security, Third Party Risk

CEO of RiskRecon Weighs in on Vendor Risk Management

Posted by RiskRecon on Jul 10, 2018 11:48:49 AM

 

RiskRecon CEO and Founder Kelly White talks to Data Breach Today about a new initiative by the Cyber Readiness Institute that aims to address vendor risk by promoting to smaller enterprises the cybersecurity best practices used by Fortune 500 companies.

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Topics: Vendor Risk Management, Vendor Security

Who’s Monitoring Your Third-Party Vendors for Cyber Risk?

Posted by RiskRecon on Jul 6, 2018 4:07:55 PM

 

Exactis Data Leak Illustrates the Enormity of an Organization’s Potential Third-Party Cyber Risk

With hundreds and thousands of complex, highly interdependent, Internet-connected systems, it’s no wonder that an enterprise’s potential third-party cyber risk has multiplied in recent years. 

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Topics: Vendor Security, Third Party Risk

You Can’t Manage What You Can’t Measure – Integrating Risk Formulas into Your Cyber Risk Management Framework

Posted by Kelly White on Jul 2, 2018 11:37:06 AM

 

By Kelly White | July 2, 2018 

Calculating cyber risk is a key element of any sound risk management strategy. While traditional risk management models have focused on financial, process, workplace and IT factors, for many organizations cyber risk is still a new component in their risk assessment practices. Yet issues such as accurately measuring exposure, understanding the correct level of security spend, and whether or not to buy cyber insurance (and how much to buy) depend on hard numbers. How do you tackle quantifying these concerns in practical business terms?

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Topics: Vendor Risk Management, Vendor Security, Third Party Risk

Security Vulnerabilities Don’t Equal Security Risk – So How Do You Prioritize?

Posted by Kelly White on May 31, 2018 1:53:50 PM

 

By Kelly White | May 31, 2018 

While security vulnerabilities are found in many technologies, their presence doesn’t necessarily equal risk. Borrowing the FAIR Institute’s definition, risk is the probable frequency and magnitude of loss. Knowing what security vulnerabilities are present in your infrastructure can help you understand the probable frequency, but it offers no indication of loss magnitude. Rather, solving risk requires two foundational data points: what security vulnerabilities your technology has, and the value of the assets in which those vulnerabilities exist. Without that context, a given vulnerability is the same as any other.

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Topics: Scalability, Vendor Risk Management, Security Ratings, Vendor Security, Third Party Risk

Join us for the Fair Institute Tech Sponsor Webinar Featuring RiskRecon Founder and CEO Kelly White

Posted by RiskRecon on May 23, 2018 2:14:34 PM

 

RiskRecon Founder and CEO Kelly White will be presenting a FAIR Institute Tech Sponsor Webinar titled "Solving third-party risk at scale - a true risk-based approach" on Friday May 18th at 3 pm EST. 

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Topics: 3rd party risk management, CISO, Webinar, Vendor Security, Third Party Risk

Why the Security of Your Vendor’s Entire Enterprise Matters

Posted by Kelly White on May 15, 2018 11:34:14 AM

 

By Kelly White | May 14, 2018  

Reliably protecting systems and data over time requires the disciplined execution of a robust security program that spans an entire enterprise. As a former CISO and now advisor to third-party risk management teams, I’ve seen some vendors take the contrary position, arguing that customers need only be concerned with security of the systems that host their data.  

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Topics: Vendor Risk Management, Vendor Security, 3PRM

What is the True Cost of Administering Your Vendor Security Questionnaire?

Posted by Kelly White on May 8, 2018 7:04:45 PM

 

By Kelly White | May 8, 2018

The more questions you ask in your third party assessments, the higher the cost. But how much does an extra question really cost? And what is its value?

In late 2017, we at RiskRecon explored this issue as part of a detailed study in which we analyzed the third-party cyber risk management practices of thirty firms. Let’s walk through a few of the study data points that led us to the answer.

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Topics: Scalability, Vendor Risk Management, Vendor Security