Should you’re new to vendor threat assessments, this text features a real-life instance of service supplier threat evaluation, serving to you perceive their construction and the main points they entail.
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Threat Assessments vs. Safety Questionnaires in Third-Celebration Cybersecurity
Within the context of cybersecurity, a threat evaluation is an in-depth research of a vendor’s safety and regulatory compliance dangers.
Safety questionnaires kind a part of a threat evaluation. They’re generally used to find cybersecurity dangers associated to alignment gaps between safety frameworks and laws. Safety questionnaires are included amongst different third-party safety threat discovery strategies, collectively representing a vendor’s full threat publicity.
Threat assessments, and subsequently, safety questionnaires, fall beneath the umbrella of Vendor Threat Administration, a cybersecurity program targeted on discovering and mitigating all third-party safety dangers all through every vendor lifecycle.
A crucial step previous the implementation of a vendor threat evaluation course of is vendor due diligence, the place the potential dangers of latest vendor relationships are analyzed at a excessive degree to know their potential impression in your safety posture. In addition to serving to you perceive which potential distributors must be prevented as a result of the chance of ensuing third-party information breaches is just too excessive, due diligence additionally differentiates distributors requiring entry to delicate data, similar to buyer information.
Associated: Making a Vendor Threat Evaluation Framework (6-Step Information)
Vendor Due Diligence is a crucial section of onboarding because it flags high-risk distributors requiring entry to sensiitve information to help your corporation operations.
Distributors processing your delicate information would require larger ranges of safety measures. To simply differentiate them, such distributors are often flagged as high-risk and assigned to probably the most crucial tier of a Vendor Threat Administration program. The third-party vendor threat information collected for high-risk distributors throughout due diligence will then kind the premise of their preliminary threat assessments.
For low-risk distributors, common evaluate of their automated assault floor scanning outcomes and safety pages will probably be ample as an ongoing evaluation technique.
Important distributors (these processing your sensiitve information) would require probably the most complete degree of threat evaluation – one involving safety questionnaires. As soon as accomplished, a threat evaluation outlines the necessities of a threat administration technique for that vendor. These preliminary point-in-time assessments is also shared with stakeholders to supply visibility into your Third-Celebration Threat Administration efforts.
Preliminary point-in-time threat assessments are a wonderful useful resource for stakeholders concerned in designing your Vendor Threat Administration processes.
Associated: A 4-Stage Vendor Threat Administration Framework
To offer additional readability on the processes concerned in due diligence and the way they match into the seller onboarding workflow, watch this video.
Study Cybersecurity’s Vendor Threat Evaluation Product Options >
Instance of a Vendor Threat Evaluation
The seller threat evaluation workflow on the Cybersecurity platform might be used for instance the construction of threat third-party threat assessments. The steps on this workflow might be used as a reference to your personal vendor threat evaluation template.
This vendor threat evaluation template is split into two parts – Proof Choice and Threat Administration.
Proof Choice
The Proof Choice portion aggregates information from a number of sources to determine a vendor’s threat profile. Due diligence processes are included on this section of an evaluation.
The “Select Evidence” part of a vendor threat evaluation template arbitrarily named “Cybersecurity Threat Evaluation.” Screenshot taken from the UpGuard platform.
This particular risk assessment template offers five categories of data sources to form the basis for an initial risk assessment.
For an overview of the top features of an ideal risk assessment solution, read this post comparing the top third-party risk assessment software options.
1. Automated Scanning Results
A list of security risks and vulnerabilities discovered through automated non-invasive scans of the vendor’s external attack surface.
Screenshot taken from the UpGuard platform.
Related: Choosing an External Attack Surface Management Tool
2. Risk Modifications
Information provided by the vendor about compensating security controls reducing the severity of security risks discovered through questionnaires.
Screenshot taken from the UpGuard platform.3. Security Questionnaires
A list of security questionnaires used to uncover deeper security risk insights not discoverable through superficial attack surface scans.
Screenshot taken from the UpGuard platform.
Your chosen set of security questionnaires will depend on the different risk categories each unique business relationship will likely be exposed to. Some potential types of vendor risks worth considering when deciding which set of vendor risk assessment questionnaires to include are outlined below.
Supply chain risks – Vulnerabilities in the vendor’s supply chain increasing the vendor’s risk of suffering a security breach. Third-party relationships susceptible to supply chain risks would benefit from aligning with cyber frameworks, including Supply Chain Risk Management standards, such as NIST CSF version 2 – an effort that could be tracked with a NIST CSF questionnaire. Business continuity risks – Threats to the ongoing operations that could disrupt core business functionsInformation security risks – Exposures forming attack vectors facilitating data breaches and malware injections, such as misconfigured elastic search servers.Operational risks – Issues in day-to-day operations potentially causing significant disruptions impacting organizational cyber threat resilience.Reputational risks – Potential damage to the organization’s public image, especially as a result of poor cybersecurity practices.Financial risks – Risks of financial loss due to poor operational efficiency and cyber threats, an impact that could be determined with Cyber Risk Quantification. Disaster recovery risks – Risks associated with resuming critical business operations, usually due to insufficient Disaster Recovery Plans.Using questionnaires to regularly track the risk of supply chain cyber attacks could have the added benefit of streamlining procurement processes, improving the overall efficiency of your onboarding workflow
Your choice of questionnaires is also influenced by the metrics governing your cybersecurity program’s success, which likely map to industry standards and regulations impacting your business operations.
In this example, the vendor is being assessed for its degree of alignment with the cybersecurity framework ISO 27001 and the strength of its web application security controls.
4. Additional Evidence
The additional evidence section pulls data from any additional relevant security resources to form the most comprehensive representation of a vendor’s risk profile.
Some common examples of additional evidence resources include:
Cybersecurity auditsCertificationsA vendor’s public-facing web page showcasing their security or compliance-related documentation.
Additional evidence section in UpGuard’s risk assessment template.
Additional evidence documentation upload workflow on the UpGuard platform.5. Trust and Security Pages
This evidence collection source pulls data from a vendor’s Trust and Security page, if one is available. Trust and Security pages overview the objectives and risk management efforts of a vendor’s cybersecurity program. With sufficient information, a Trust and Security page could significantly reduce the complexity of security questionnaires in an initial risk assessment.
Trust and Security page information gatheringRisk Management
The final component of this risk assessment template is the risk management phase. This is where all risks detected from the evidence-collection phase are assigned a severity rating and ranked from most critical to least critical.
Risk management phase of the risk assessment workflow.
Since initial risk assessments could serve as an action plan for managing the new vendor’s risk profile, every listed risk should be accompanied by a field outlining a corresponding risk treatment plan. These short notes will streamline decisions about whether the vendor is woth onboarding after the risk assessment is completed.
All risk treatment plans should consider whether the resource investment required to suppress a risk below the company’s risk appetite is worthwhile.Examples of security questionnaires used in risk assessments
A security questionnaire is differentiated by the specific industry standards and regulatory requirements it maps to. Depending on the level of security detail covered in a specific standard, a questionnaire could be relatively concise or lengthy.
Here’s a snapshot of a SP NIST 800-53 questionnaire from the UpGuard platform, consisting of 5 primary sections and 138 subsections.
Snapshot of NIST 800-53 questionnaire on the UpGuard platform
To learn more about the information commonly included in such a questionnaire, download this free NIST 800-53 risk assessment template.
Here’s another example of an in-depth questionnaire mapping to the standards of ISO 27001.
Snapshot of ISO 27001 questionnaire on the UpGuard platform
To learn more about the information commonly included in such a questionnaire, refer to this ISO 27001 questionnaire template.
Here’s a snapshot of a questionnaire mapping to the standards of SIG Lite, a questionnaire used to produce a broad representation of a vendor’s internal information security controls.
Snapshot of SIG Lite questionnaire on the Cybersecurity platform
Different kinds of questionnaires embrace:
For a whole record of questionnaires generally utilized in threat assessments, check with this record of questionnaires out there on the Cybersecurity platform.
Automate your vendor threat evaluation processes in 2024
By integrating synthetic intelligence into processes that generally trigger bottlenecks in threat evaluation, Cybersecurity’s AI Toolkit helps sooner evaluation completions and is a scalable vendor threat evaluation program.
Watch this video for an outline of Cybersecurity’s AI Toolkit.
