While vendor risk management has long been an area of concern for Financial Institutions, regulators are now looking for banks to do more and provide a higher level of assurance about the security practices of their vendors. But how? With regulators continuously raising the bar, one thing is clear: the vendor reviews of the past will no longer be sufficient in today's environment.
In this presentation Stephen Boyer, CTO and Cofounder of BitSight Technologies will explore:
- The evolving regulatory landscape regarding Vendor Risk Management, and the practices organizations are adopting to meet these more stringent demands.
- Why continuous monitoring of vendor security performance is both critical and achievable, through the use of datadriven, evidence based security ratings
- How a global financial services firm is transforming the way they select and interact with vendors and suppliers, detailing their own industry-leading practices in VRM and how the use of security performance ratings is allowing them to harden their extended enterprise.