Effectively Managing A 3rd Party Security Relationship For Regulatory Compliance

Cyber Security Digital Summit: Mitigating Risk While Maintaining Compliance

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Jeff Orr

Risk Management

Businesses have been given a revised charter – call it digital transformation, an innovation culture, or simply enterprise change – to create long-term value, competitive advantage, and derive new cost savings for shareholders.

To meet these objectives, organizations are increasingly reliant on third-party vendors, suppliers, and service providers to scale efforts beyond current personnel headcount.

Amidst several stringent privacy regulations, businesses are under pressure to look closely at how they assess, monitor, and mitigate risk with third-parties. To maintain compliance with all applicable regulations, companies are seeking more automation and centralized databases for third-party risk management throughout the entire vendor lifecycle. In this Cyber Security Digital Summit session, the key operational features to implement in your own organization are shared to ensure you’re audit ready for any regulation.

See Related: Is Your Business Audit-Ready? Third Party Risk Management Best Practices For Regulation

For an organization to effectively manage a 3rd party relationship, it needs to have its house in order. There are a lot of stakeholders to consider - governance, risk, compliance, privacy and cyber security to name a few. Learn about various assessments and tools available for the business to evaluate itself before asking a 3rd party to enforce your organization’s security posture.

See Related: Building The Business Case For Enterprise Third-Party Risk Management (TPRM)

The session also addresses:

  • How to streamline your third-party risk management (TPRM) program for compliance with major regulations
  • The top components of third-party risk management regulation
  • Which activities should be completed to prepare for compliance
  • How organizations can prepare for all of the upcoming legislation beyond CCPA

This Cyber Security Digital Summit session provides a great overview of the regulatory landscape. Follow our link to hear the full story.

See Related: Large Software Companies Using Data Privacy As A Competitive Advantage