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Viewing Category: Best Practices

Setting a New Benchmark – New York State Cybersecurity Requirements

Published on April 17, 2017 By | Posted in: Best Practices, Business Resiliency, Compliance, Education, Framework, Newsletter, Outsourcing, Risk Management, Third Party Risk Management, Vendor Risk Managment

For financial services companies that fall under the New York State Department of Financial Services (DFS) cybersecurity requirements rule, the timeline for implementing 23 NYCRR500 has begun. The new rule became effective March 1st. Each section of the rule has a timeline relating to the development of cybersecurity programs for all “Covered Entities.” The regulation […]

The Shared Assessments Program 2017 Strategic Risk Management Initiative

Published on April 11, 2017 By | Posted in: Best Practices, Board's, Business Resiliency, Certified Third Party Risk Professional (CTPRP) program, Cybersecurity, Education, Framework, Outsourcing, Risk, Risk Management, Security, Third Party Risk, Third Party Risk Management, Vendor Risk Managment

The Shared Assessments Program is the only organization that has uniquely positioned and developed standardized resources for managing the complete third party relationship lifecycle. Such standardization is critical to the advancement of effective, secure third party controls and risk management in an otherwise fractured market. As part of our 2017 initiative, we’re formalizing the Shared […]

Setting Expectations for Your Third Parties

Published on March 14, 2017 By | Posted in: Best Practices, Business Resiliency, Education, Newsletter, Outsourcing, Risk, Risk Management, Security, Third Party Risk, Third Party Risk Management, Vendor Risk Managment

Risk Rating During On-Boarding Including third party risk rating as a strategic part of a robust risk management program provides the opportunity for early identification of the wide range of issues that ripple through both regulated and unregulated industries wherever outsourcing is present. Scoring third parties consistently was ranked as the most challenging issue in […]

Employing Lines of Defense – Risk Management That’s Not Just for Banks

Published on February 23, 2017 By | Posted in: Best Practices, Business Resiliency, Education, Framework, Newsletter, Outsourcing, Risk, Risk Management, Third Party Risk Management, Vendor Risk Managment

Key Best Practices Messages Robust risk governance principles are espoused in guidelines worldwide for Enterprise Risk Management (ERM) from organizations that vary from oversight agencies to industry support groups. Just for example, the International Association of Privacy Professionals (IAPP), Financial Stability Board (FSB), Committee of Sponsoring Organizations of the Treadway Commission (COSO), the Basel Committee […]

Building Your TPRM Program – Part 1: Four Foundational Steps to Build Your Third Party Risk Management Program On

Published on February 3, 2017 By | Posted in: Best Practices, Business Resiliency, Certified Third Party Risk Professional (CTPRP) program, Education, Framework, Outsourcing, Risk Management, Vendor Risk Managment

Build Your Third Party Risk Management Program

Building Your TPRM Program

Published on January 25, 2017 By | Posted in: Best Practices, Business Resiliency, Education, Outsourcing, Risk Management, Third Party Risk Management, Vendor Risk Managment

PwC’s report highlighting monitoring of vendor networks by means of supply chain risk analytics focuses on the fact that the volume and transactions of outsourcing amplify risk. “The increasing severity of consequences for regulatory violations by vendors in complex global supply chains is matched only by the corresponding damage to reputation when vendor network violations […]

Press Release-White Paper Release: A Guided Assessment – Providing Advancements in Building Best Practices for Vendor Onsite Assessments

Published on March 15, 2016 By | Posted in: Best Practices, Vendor Onsite Assessment, Vendor Risk Managment

FOR IMMEDIATE RELEASE MEDIA CONTACT Marya Roddis, Vice President of Communications O: 575.235.8228 marya@santa-fe-group.com White Paper Release: A Guided Assessment – Providing Advancements in Building Best Practices for Vendor Onsite Assessments Building new expectations and increasing transparency to assure good assessment practices Santa Fe, NM — March 15, 2016 — Shared Assessments is pleased to […]

Building Best Practices for Incident Event Management Programs

Published on December 21, 2015 By | Posted in: Best Practices, Blog, Briefing Paper, Incident Reponse, Risk Management, Third Party Risk Management

A meager 9% of incident management professionals rate their organization’s incident event management program as “very effective.” That’s just out of the 43% of organizations reporting that they even have a plan in place1. With escalating risks related to third party and even fourth party organizations, outsourcing companies must begin to apply best practice industry […]

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