Provides a comprehensive template and workflow for evaluating the multidimensional security and compliance risks of third-party vendors.
A formal vendor risk assessment (VRA) framework utilizes structured questionnaires to evaluate information security, physical data center security, web application security, and infrastructure resilience. Using automated tiering and standard templates like SIG Lite, organizations can approve 90% of low-risk SaaS vendors within 48 hours. The assessment process addresses critical threats such as DMARC weaknesses, phishing, and domain hijacking. Key metrics for quantifying risk include weighted scoring for GDPR compliance and the use of external security ratings to validate vendor claims about patching and vulnerability management.
How do you ensure remotely accessed sensitive data (such as data accessed from mobile devices) is secured?
Risk Guard evaluates the package but doesn't assess the remote access or data sovereignty policies of the organization maintaining it.
Risk Guard would be better if it could ingest and verify a vendor's remote access and data protection policies as part of the risk profile.