Third-Party Risk Management Services

Third-party risk management (TPRM) consulting services

Out Third-party risk management (TPRM) services and solution is an end-to-end managed service that streamlines the entire TPRM process, from third-party engagement/initiation and selection through contracting negotiations and ongoing monitoring.

Comprehensive Vendor Management and Assessment Services

Risk Cognizance offers comprehensive security assessment services that address compliance and IT security risks on an enterprise-wide basis. Our Cyber Security & IT security risk assessment services will identify critical gaps in your information security architecture that prevent you from achieving your information security goals and objectives. Our assessment and risk management approach considers the people, processes, systems, and third party service providers that support and deliver information technology services to your organization.

Compliance Assessment Services

Risk Cognizance can help your organization meet the security, confidentiality, availability and privacy requirements of one or more regulations. We offer a modular approach based upon your needs, consisting of one or more of the following components:

  • FERPA third-party risk management

  • SOX & SOC third-party risk management

  • ISO 27001 third-party risk management

  • NIST third-party risk management

  • FEDRAMP third-party risk management

  • COBIT third-party risk management

  • GLBA third-party risk management

  • GDRP third-party risk management

  • FISMA third-party risk management

  • HIPAA third-party risk management

  • HITECH third-party risk management

  • PCI DDS third-party risk management

  • FINRA third-party risk management

Vendor Trust Third-Party Risk Management

Our analysts ask questions from relevant security questions to assess the hygiene of your vendors. All evidence provided by your partners is reviewed and assessed. The Partner Trust Assessment includes:

  • Third-party screening: The use of advanced analytics and artificial intelligence (AI) to collect and examine data from the internet and proprietary databases to identify risk indicators.

    1. Background checks: Comprehensive checks, including detailed research into companies, key individuals, and ultimate beneficial owners.

    2. Third-party questionnaires: Collection and analysis of data from the third-party regarding its control environment (such as policy, process, and capability). Risk Cognizance’s vendor questionnaires meet regulatory expectations. 

    3. On-site inspections: On-site, detailed assessments of the third-party’s control environment. These inspections are performed by experienced professionals with risk domain expertise.

    4. Monitoring: Ongoing analysis (using data analytics and AI) of various data sources to identify any emerging or new issues regarding in the third-party portfolio.

  • Assess System Security (Review of Patching processes, hardening processes, role based access control, management of privileged accounts, etc).

  • Assess Business Continuity (Review of DR, BCP plans / procedures, notification processes, etc)

  • Assess Data Security (use of encryption and data security during processing transmission and storage)

  • Assess Network Security (Review of network topology and security controls, Anti-virus configurations, Penetration Testing, Security Monitoring capabilities, etc).

  • Assess Application Development Security (When applicable, review of secure code training, review of secure-SDLC processes, use of a web application firewall, code scanning process, etc).

  • Assess Physical Security (When applicable, review of security cameras, badge access, etc).

Third-Party Risk Management | Vendor Risk Assessments

Risk Cognizance security assessment services include security maturity assessments and security risk assessments.

In a security maturity assessment, our team will evaluate your current controls and benchmark them against leading practices. With a better understanding of how you manage risk relative to best practices and your risk appetite, you can optimize your security investments more effectively.

In a security risk assessment, Risk Cognizance experts will help you assess and identify areas of weakness and modify your security posture to address them. This IT security audit can help to ensure compliance with regulatory frameworks and technical safeguards, and reveal where essential information like credit card data or protected individual information could be at risk.

Security Assessment & Consulting

Vulnerability Assessment Services

The purpose of a vulnerability assessment is to evaluate your current IT environment known vulnerabilities, review your current security posture in the context of those vulnerabilities, and provide recommendations for correcting them. Evaluations performed from multiple locations within and outside your network help you understand the threats from each attack point for a thorough assessment of your IT environment.

With both network and web application components, CSO’ vulnerability assessment services can identify critical system weaknesses in your organization. Each assessment includes:

  • Manual analysis

  • Verification of vulnerabilities discovered

  • Prioritized remediation steps

  • Customized reporting

  • Remediation support

Vulnerability assessments can be scheduled a monthly, quarterly, or yearly basis. Payment Card Industry (PCI) compliance scanning also available.

Consulting Third-party risk management (TPRM) Services

CSO cyber security consultants use their expertise in security assessment, compliance, and authorization to analyze threats to cloud and on-premise systems based on their likelihood of occurrence. By combining known threats, architectural design, and the probability of occurrence with mitigation and risk transference strategies, we’re able to provide a clear representation of an organization’s risk posture.

CSO offers a variety of consulting services to help your organization start secure and stay secure.