Best Practices for Third Party and Vendor Cybersecurity Risk Management

Cybersecurity has become an organization-wide effort, not a single individual’s job. Organizations simply do not have enough resources to keep up with the increasing and changing landscape of cybersecurity risks. Notably, we are seeing a significant increase in attacks coming from third parties, such as data breaches through a business partner or other third parties. [...]
  • November 27, 2018
  • Are You a Third Party Risk Management Leader?

    Third parties are an organization’s fastest growing cyber risk. To safeguard business health and catalyze growth, companies need to better resource their third party risk management programs. How can you know if your company is doing enough? A landmark study from RiskRecon, the Third-Party Security Risk Management Playbook, revealed the real-world risk management capabilities of […]

    • November 21, 2018
  • How to Best Manage Third and 4th Party Risk

    On average, the number of third parties an organization works with is increasing by 25% per year. At the same time, third party compliance and information security lapses have subjected vendors, suppliers and the companies they work for to unwanted public attention. In this environment, it’s no surprise that only 17% of businesses feel their […]

    • November 19, 2018
  • Third Party Risk Trends: Why Companies Aren’t Keeping Up with Data Security

    Companies know that third-party data security risk is a problem, but the majority haven’t been able to keep up with rising threats. According to recent research from Opus and the Ponemon Institute, 59% of companies have experienced a third-party data breach. In the U.S. alone, 61% of companies have — up 5% from last year, […]

    • November 15, 2018
  • 3 Trends Driving Third Party Risk Management in the Banking Sector and Beyond

    It’s not hard to understand why third-party risk has become a board-level concern and is one of today’s largest risk management trends. Third parties are an essential part of doing business globally, but they also pose huge threats. Companies are feeling the pressure, and nowhere is it stronger than in the banking and financial services […]

    • November 7, 2018
  • Unleashing the Power of Third Party Management to Achieve GDPR Compliance

    May 25th, 2018, ushered in a major overhaul of how organisations around the world can collect and process the personal data of EU citizens. The General Data Protection Regulation (GDPR) received much attention in the months leading up to its enactment. Organisations raced to get their house in order and to adapt to their new […]

    • October 29, 2018
    • Richard Saville
  • Getting Ahead of the EBA’s Guidelines on Outsourcing Arrangements

    Requirements surrounding outsourcing in the EU are about to get tougher. Last month, the European Banking Authority (EBA) held a public hearing on its new draft guidelines on outsourcing arrangements. Financial leaders shared their thoughts, including concerns about their ability to effectively manage outsourcing relationships under the guideline’s expanded scope. The directive establishes a single […]

    • October 8, 2018
    • Richard Saville
  • The Hard Costs of “Soft” Risks: Managing Corporate Responsibility and Sustainability

    In an article published last month in the US version of The Guardian, they cite that reputational risk damage done to Nike as a result of a corporate responsibility issue caused a loss of half of Nike’s market capitalization, from which it took Nike six years to recover. The Guardian article is excerpted from the […]

    • October 4, 2018
    • Eliot Madow
  • Supply Chain Risk: Creating a Risk Map

    During a recent presentation at the University of Massachusetts, a group of students in the College of Management’s Supply Chain program were asked to brainstorm all the different ways in which they thought a supply chain could be disrupted. In fifteen minutes, these undergrads generated a list of dozens of supply chain risks in about […]

    • August 27, 2018
    • Eliot Madow
  • 4 Third-Party Risk Management Trends in Singapore

    Third parties are a staple of modern business, letting companies embrace digital transformation, expand into far-flung markets and do more than ever before. But managing those third-parties for risk? That remains a major challenge for companies the world over. Recently, the Opus team met with Singapore compliance leaders at a special event focused on managing […]

    • August 17, 2018
    • Sacheen Williams
  • Data Privacy in Singapore and the Rise of Third-Party Breaches

    Singapore takes data protection seriously — to the tune of up to $1 million in fines for companies found in non-compliance with its Personal Data Protection Act (PDPA). It’s the steepest possible financial penalty in Asia for a lapse in data security, and Singapore companies are feeling the impact. In the past two years, Singapore’s […]

    • July 13, 2018
    • Pat McParland
  • Why Third Party Risk is Now a Board Level Concern

    Cyber security and regulatory risks are coming at businesses from all angles. Data breaches, compliance failures, bribery, corruption — information security and risk management professionals have their hands full. And they aren’t the only ones who are feeling the heat as the pressure ramps up. Boards of directors and c-suite executives are recognizing the need […]

    • June 20, 2018
  • Supply Chain Risk: Is it a Problem Too Big to Solve?

    Companies that are part of global supply chains find risks lurking around every corner, from tsunamis to factory fires to labor actions. Some of these risks are man-made, while others come from the natural world. When you begin to list out all the ways that the supply of goods and services can be interrupted — […]

    • May 24, 2018
    • Eliot Madow

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