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Need to know how some of you manage vendor security assurance.

Hi, wish to know how some of you manage vendor security assurance. One model I observe as emerging is, having a common platform and avoiding redundant efforts. Some players like Helios, KY3P offer this as service. What's your take and have any of your organisation experimented such platform. Representing a product organisation, we qualify as vendors. One another model is to self establish a platform and take an annual attestation from independent assurance firms. Wish to hear your views on this topic. Thanks(question posted on behalf of a CISO member)

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Permalink Reply by CISO Platform on August 27, 2019 at 10:50am

The below response is based on CISO Platform closed group discussion:

(private CISO member)

In my view, it will be a combination of Self Assessments + Onsite reviews depending on the risk profile of vendors. With Banks typically having the largest vendor base, KY3P and Trusight popped up. As we speak, we are trying to roll out ServiceNow Vendor Risk Management module which allows us to get online self assessment done but for vendors that need onsite review, we use a combination on inhouse resources and 3rd party resources

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Permalink Reply by Sanjivan S Shirke on August 30, 2019 at 4:22pm

Hi,

It is not necessary that all IT vendors from whom one obtain goods or services néed to submit assurance of security i.e. Hardware, consumables. A simple confidentiality clause would suffice in the Contract/SLA. However, vendors who would be having access to data or core engine of processing, SOC 2 or SOC 3 certification latest would ensure security assurance.

Sanjivan Shirke