Know Your Level of Third-Party Risk
Get backup from our team of security experts to assist your organization in enhancing and standardizing your vendor risk management program.
VRM
Vendor Risk Management
What is Vendor Risk Management?
Validate the information security practices of your vendors
More than half of all security breaches result from third-party vendors hired by your organization, so it’s critical that you identify the vendors working for you and determine the level of risk they bring. The easiest way to do this is by using vendor risk management software. Our VRM services help you to pinpoint the vendors that present the most risk to your organization—evaluating all third-party vendors based on the amount of potential impact they have on your organization.
How can we help?
Speak with one of our VRM experts to get started improving your VRM program.
CONTACT USHow does FRSecure approach VRM?
Armed with a standardized, risk-based scoring methodology coupled with a built-in remediation plan, FRSecure will work to assist your vendors in correcting any security issues that arise in order to protect their organization and yours.
VRM Steps
01.
Inventory
Organizations can’t adequately determine their vendor risk without knowing who ALL of their vendors are. Building an inventory is a key first step.
02.
Classification
Once organizations know who their vendors are, it’s important to classify them. Categorize the impact a vendor’s risk has on you so you can prioritize better.
03.
Assessment
Once you understand who your high-risk and medium-risk vendors are, quantifying the risk that comes along with that vendor becomes crucial.
04.
Risk Treatment
So you know all your vendors and the risk they pose. How do you want to handle it? Agree upon remediation efforts to help mitigate risk.
Standards Supported
- FFIEC
- FISMA
- FISMA
- GLBA
- HITRUST
- ISO 27000-1
- NCUA
- NIST CSF
“Thanks to FRSecure’s detailed understanding of both technical requirements and healthcare regulations, the complex site has maintained impeccable compliance and reliable performance. FRSecure’s responsiveness, customer-focused attitude, and robust audit processes continue to promote stability.”
President
Trailhead Health
VRM FAQ
Several regulations & compliances require third-party vendor risk management.
- CMMC
- DoL
- FDIC
- HITRUST
- HIPAA
- ISO
- OCC (US Office of the Comptroller of the Currency)
- SOC II
FRSecure uses SecurityStudio for vendor risk management. This software platform employs S2Vendor to measure and manage the security risk of an organization’s vendors.
We follow a process that includes:
- Identifying vendors
- Implementing policies and procedures
- Internal departments identifying and classifying vendors
- Self-assessments collected
- Facilitated risk assessments conducted
- Validated risk assessments conducted
We offer three different levels of vendor risk management services depending on your needs and the number of vendors. Contact us for a custom quote.
We use a straightforward scoring system to break down vendor risk, removing uncertainty from the VRM process.
This allows us to easily understand and communicate any weak points at all levels so you can be confident your organization will meet DoL requirements
The FRSecure Way
Why work with FRSecure?
Expertise
FRSecure has been in business for over 10 years, and our team has more than 300 years of combined experience working in information security and boasts 30 different kinds of certifications. When it comes to growing a VRM program, you have the benefit of experience in your corner.
Mission
Our mission at FRSecure is to fix the broken information security industry. Not only do we help enhance VRM programs, but we also solve as many weaknesses as we can in your security environment. We are dedicated to making real, lasting, impactful changes to your security program.
Style
Our style isn’t “cookie cutter.” We recognize that each organization is different, and every security program is at a different stage of maturity. We get to know your security program intimately, use vendor-focused assessents to determine where your biggest risks are, and then apply industry best practices to provide next steps that’ll help you enhance your VRM program.
Focus
Information security is all we do. We don’t do IT, sell hardware, or provide telco services. We only do security. Because of this, our team can provide unbiased recommendations that will actually make a dramatic impact to the way you do security. We work hard to be a partner—collaborating with and educating your team every step of the way.
“FRSecure’s recommendations have resulted in a level one PCI certification, which is the highest level of certification a company can achieve. Their highly personalized recommendations and services have resulted in heightened security and continual growth in business.”
Security Administrator
Premier Printing Company
