CISO Checklist:
Vendor Risk
Management
Vendor Selection and Risk Profiling
Security Posture Assessment and Verification
Continuous Monitoring and Threat Detection
Contractual Agreements and Compliance
Incident Response Planning with Vendors
Stakeholder Communication and Reporting
Review and Optimization of Vendor Risk
Management Practices
This checklist will help you address the essential
components of a Vendor Risk Management program.
Foresiet.com
Vendor Selection and Risk Profiling:
Helps CISOs make informed decisions about which third-party services to use,
ensuring that only vendors with acceptable security postures can access or
handle the company’s sensitive data.
Establish a multi-tiered classification system to evaluate potential
vendors based on the sensitivity and scope of data access
required.
Integrate industry-standard security questionnaires into the
vendor selection process to understand their cybersecurity
practices.
Require prospective vendors to disclose past security incidents,
breach responses, and recovery actions as part of their risk
profile.
Engage in a dialogue with potential vendors about their
subcontractors and the security measures they employ.
Leverage external intelligence and vendor risk management
platforms to assess and compare vendor risk profiles.
Create an internal vendor risk registry to track and manage all
vendor risk profiles and assessments.
Periodically reevaluate vendor risk profiles to account for
changes in vendor operations or the threat landscape.
Foresiet.com [email protected]
Security Posture Assessment and Verification:
Assists in validating and ensuring that vendors’ security practices are in compliance
with the company’s standards, reducing the likelihood of security breaches through
third-party services.
Develop and maintain a comprehensive checklist of security
controls and best practices for vendor evaluation.
Conduct in-depth reviews of vendors’ security policies, incident
response plans, and compliance with regulatory requirements.
Utilize penetration testing and vulnerability assessments to
verify vendors' security claims.
Ensure vendors have robust data encryption practices for both
data at rest and in transit.
Assess the physical security measures of vendors who handle
or have access to physical assets.
Review and verify vendors' employee security awareness and
training programs.
Require periodic third-party security audits or certifications (e.g.,
ISO 27001, SOC 2) for critical vendors.
Foresiet.com [email protected]
Continuous Monitoring and Threat Detection:
Enables CISOs to maintain a constant watch over vendors' security practices, quickly identifying and
addressing any vulnerabilities or active threats that arise.
Implement a continuous monitoring strategy that includes
regular security performance reviews and real-time threat
intelligence feeds.
Employ automated tools to monitor vendor network traffic
for suspicious activities that could indicate a compromise.
Develop thresholds and triggers for alerts that require
immediate action versus routine follow-up.
Integrate vendor security monitoring into your organization’s
Security Information and Event Management (SIEM) system.
Maintain an active channel of communication with vendors for
the timely exchange of threat information.
Utilize cybersecurity scorecards for ongoing assessment of
each vendor's security posture.
Regularly update and refine monitoring tools and processes to
adapt to new threats and changes in vendor services.
Foresiet.com [email protected]
Contractual Agreements and Compliance:
Provides a framework to enforce security compliance among vendors, making it easier to
manage legal and regulatory obligations and to hold vendors accountable.
Ensure all vendor contracts include comprehensive security
clauses and definitions of acceptable security standards.
Define clear penalties for non-compliance and failure to
meet contractual security obligations.
Establish data handling and processing guidelines that are
in compliance with data protection regulations like GDPR or
HIPAA.
Include the right to audit clauses to allow for security
inspections and assessments.
Stipulate mandatory breach notification requirements within a
defined timeframe.
Set forth terms for the return or destruction of data upon
contract termination.
Regularly review and update contracts to align with evolving
legal, regulatory, and industry-standard cybersecurity practices.
Foresiet.com [email protected]
Incident Response Planning with Vendors:
Ensures CISOs have a strategy in place for dealing with security incidents, allowing for a swift
and coordinated response that aligns with the organization’s overall incident management
protocols.
Create a joint incident response plan that aligns with your
organization's internal incident handling procedures.
Define and document the specific roles and responsibilities
of both parties during a cybersecurity incident.
Establish communication protocols and escalation paths for
effective coordination during an incident.
Test and exercise the joint incident response plan with
tabletop exercises or simulated breaches.
Develop a post-incident review process to evaluate the
response and identify areas for improvement.
Ensure that vendors have a current and effective incident
response team in place.
Update and refine the incident response plan regularly based
on testing outcomes and evolving threats.
Foresiet.com [email protected]
Stakeholder Communication and Reporting:
Gives CISOs tools to regularly update stakeholders on vendor risk, ensuring there is clarity on
third-party risk and its management within the organization.
Create a standardized reporting template that summarizes
vendor risks, incidents, and performance metrics for
stakeholders.
Set a regular schedule for reporting to senior management
and other relevant stakeholders.
Use dashboards and visualizations to convey complex
vendor risk information in an accessible format.
Document and communicate any vendor-related security
incidents and resolution measures taken.
Provide training sessions for stakeholders on the importance
and impact of vendor risk management.
Foster a transparent communication culture where stakeholders
can freely discuss concerns and suggestions regarding vendor
risks.
Keep records of all communications for regulatory purposes
and internal audits.
Foresiet.com [email protected]
Review and Optimization of Vendor
Risk Management Practices:
Helps in the continual improvement of vendor risk management processes, keeping
the organization’s defenses against third-party risks strong and up-to-date.
Schedule semi-annual or annual reviews of vendor risk
management policies and procedures.
Use feedback from stakeholders, audits, and incidents to
improve vendor risk management strategies.
Keep abreast of new technologies and methodologies for
vendor risk management to enhance current practices.
Analyze trends in vendor risk to inform strategic decisions
and policy updates.
Encourage a culture of continuous improvement, where
feedback is sought and valued.
Benchmark your vendor risk management program against
industry standards and peers.
Document all changes and updates to the vendor risk
management program and communicate these to relevant
parties.
Foresiet.com [email protected]
Foresiet Third-Party Vendor Risk Assessment
Mitigate Risks with Proactive Third-Party
Vendor Monitoring
Third-party vendors are essential to modern business operations. They provide us with
critical services and resources, from cloud computing to data management. However, this
reliance can also create a dangerous blind spot in your cybersecurity armor.
Third-party vendors often have access to sensitive data and systems, making them attractive
targets for cyber criminals. If a vendor's security practices are weak, it can compromise your
entire organization.
Third-party vendors can be a blind spot in your cybersecurity armor. Foresiet's service
emphasizes rigorous monitoring of your vendors' security practices, ensuring they meet or
exceed your organization’s standards. By assessing and managing the risks associated with
third-party vendors, we help you fortify your defenses against potential vulnerabilities.
Foresiet is a powerful digital risk protection solution that can help businesses proactively
manage and mitigate digital risks in a single pane of glass. Organizations don’t need to
invest in multiple-point solutions. With its comprehensive monitoring and analysis
capabilities, user-friendly dashboard, and real-time alerts, Foresiet is an essential tool
for businesses looking to protect their digital assets and operate with confidence in
today's digital landscape.
Foresiet.com
Foresiet Integrated Digital Risk Protection (IDRP)
(One-Click Plug and Play IDRP Solution)
Digital Risk
Protection
Anti-Phishing Brand
Shield Protection
Integrated
Digital Risk
Protection
(IDRP) Attack
Compliance &
Third-party Surface
Assessment Management
Threat
Intelligence
Foresiet.com
Digital Risk Protection Brand Protection Attack Surface Management
Real-time digital risk monitoring to Powerful surveillance to deter Comprehensive attack surface management
secure operations from unseen threats. intellectual property theft and to reduce exposure and seal off
protect brand integrity. vulnerabilities.
Threat Intelligence Compliance & Third- Anti-Phishing Shield
Advanced threat analytics to gain party Assessment Proactive phishing defense system to ward
unparalleled foresight and outsmart off deceptive threats and keep
potential cyber attacks. Thorough assessments to ensure
communications and data secure.
impeccable standards within the
organization and across the entire
vendor network.
Foresiet's Integrated Digital Risk Protection (IDRP) solution is your one-stop shop for cyber defense. It
scans the deep and dark web for threats to your brand, identifies vulnerabilities in your IT infrastructure,
and assesses the cybersecurity posture of your vendors. Plus, it shields your employees from phishing
attacks and protects your online reputation from impersonation and counterfeiting. In short, Foresiet
IDRP gives you 360-degree visibility and protection against today's most sophisticated cyber threats.
Is this post
useful to you?
Feel free to like, share,
and save if you find
this post useful!
Like Comment Share Save
