Authorities on Risk Assurance

The Shared Assessments Blog

Comments Invited on Federal Banking Agency Enhanced Cyber Risk Management Standards

Published on October 19, 2016 By | Posted in: Third Party Risk, Cyber Risk, Third Party Risk Management, OCC, Data, Data Protection

The three federal banking regulatory agencies, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, announced an advance notice of proposed rulemaking (ANPR) regarding enhanced cyber risk management standards for large and interconnected entities under their supervision, as well as those entities’ service providers. The standards […]

You Can’t Build a Robust Risk Management Program Without the Right Skills

Published on October 16, 2016 By | Posted in: Third Party Risk, Newsletter, Third Party Risk Management, Certified Third Party Risk Professional (CTPRP) program, Data, Blog, Data Protection, Education

The intricate third party risk management (TPRM) lifecycle requires coordinated and well-integrated knowledge from the Board and C-Suite through management and general staff, and extends throughout the relationship with third and fourth parties. The complex elements of a robust TPRM program involve effective design, control and monitoring of policies and processes, third party and system […]

G-7 Financial Sector Fundamental Cybersecurity Guidance

Published on October 14, 2016 By | Posted in: Cybersecurity, Guidance, Blog

This week the U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System announced the publication of the G-7 Fundamental Elements of Cybersecurity for the Financial Sector. The document, released by central bank governors and finance ministers of the G-7 nations, delineates eight fundamental elements around cybersecurity for the financial […]

Education Increasingly Important in Third Party Risk Management

Published on October 7, 2016 By | Posted in: Certified Third Party Risk Professional (CTPRP) program, Certification

Who does your organization trust to assess key service providers with access to your confidential and proprietary data? Specialized skills and expertise are required to manage risk in a rapidly evolving outsourced economy. Certifications are an important way to demonstrate competency in a complicated field to employers, colleagues, and customers. According to the 2015 Shared […]

Press Release – White Paper Release: Building Best Practices in Third Party Risk Management

Published on October 4, 2016 By | Posted in: Press Release, Third Party Risk Management, White Papers

MEDIA CONTACT: Marya Roddis, Vice President of Communications O: 505-466-6434 C: 575-235-8228 Involving Procurement to facilitate a centralized process can be leveraged to achieve more than just cost savings Santa Fe, NM – October 4, 2016 – The Shared Assessments Program is pleased to announce the release of its newest white paper: Building Best […]

Building A Robust Third Party Risk Management Program

Published on September 16, 2016 By | Posted in: Third Party Risk, Newsletter, Third Party Risk Management, Data Protection

Strong third party risk management is a growing requirement in the face of globalization and the increasing dependence on third parties that support core products and functions. Third party risk management (TPRM) revolves around the whole relationship lifecycle. This intricate lifecycle requires organizations to apply an integrated approach that expands the need for robust governance, […]

A New Pathway for Risk Managers – Associate Certified Third Party Risk Professional (CTPRP) Status is Now Available

Published on September 15, 2016 By | Posted in: Third Party Risk, Third Party Risk Management, Certified Third Party Risk Professional (CTPRP) program, Certification, Cyber Skills, CTPRP Training

Special expertise and training is required to manage risk in this outsourced economy. Studies consistently demonstrate a disconnect between regulatory and industry standards for third party risk management (TPRM) and a lack of holistic, proactive program design and implementation. This gap is placing organizations at acute risk. Therefore, Shared Assessments developed the Certified Third Party […]

At the Heart of the Cyber Security Skills Shortage

Published on September 7, 2016 By | Posted in: Cybersecurity, Hacking, Blog, Cyber Attacks

Three recent studies demonstrate that organizational and IT department leadership sit squarely at odds with several important challenges to improving IT-related risk postures: Predictions that organizations do not plan to increase the level on hand security expertise; A well-documented and looming shortage of cybersecurity and IT professionals; and Just 18% of employers reported willingness to […]

EU’s GDPR – Privacy as Best Practice

Published on August 31, 2016 By | Posted in: Privacy, Newsletter, Data, EU, General Data Protection Regulation (GDPR), Brexit, Data Protection

While the expanded regulations and new accountabilities of the European Union (EU) Regulation 2016/679, better known as the General Data Protection Regulation (GDPR) are daunting in scope, they do provide significant opportunities as well.1 For instance, while demonstrating privacy by design will be an ongoing organizational obligation, complying with the new regulations and then being […]

The World is Looking to the US for Third Party Risk Guidance

Published on August 30, 2016 By | Posted in: Third Party Risk, Regulations, Third Party Risk Management, Blog, Huffington Post, Vendor Risk Management Benchmark Study

As more organizations here in North America and overseas increasingly utilize third party vendors with a global presence to perform critical functions, process key transactions and provide exposure to sensitive proprietary information, those organizations with mature third party risk (TPR) programs are receiving a loud call to provide assistance to those new to the TPR […]

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