Third-Party Cyber Risks Are a Major Issue – But Is Your Board Really In The Know?
When it comes to third-party cyber risks, what challenges do you have to look out for? A recent survey of the financial sector – including banking, insurance, and related professional services – has pinpointed critical issues, along with some of the blind spots that are leaving organizations vulnerable.
The joint study from BitSight and the Center for Financial Professionals (CEFPro) looks at the business ecosystem of the financial services industry, from legal organization to human resources to IT and software providers – each of which bring their own risks if not effectively managed. Among the key findings:
Moving forward, the report recommends integrating and standardizing third-party cyber risks into the organization’s overall risk management program, continuously monitoring and rating vendor cybersecurity strengths, and establishing communication and reporting strategies at the board level.
Click here to download the complete report (free registration required).
The response to DRI’s new Cyber Resilience course and certification has been overwhelmingly positive, with upcoming classes filling up fast. In this course, you’ll discover how business continuity and cybersecurity must integrate within every organization, using the five elements of cyber resilience: prepare/identify, protect, detect, respond, and recover. Collectively, these concepts and the resulting action plans will help to develop a strategy to effectively respond to unforeseen events and get your organization back up and running as quickly as possible. Click here for additional course and certification information.