NAVEX Global commissioned an independent third party study of over 300 Ethics and Compliance senior level decision makers in compliance, HR, legal and risk roles across multiple industries, to understand how they are allocating their budgets and which activities are contributing to their program success. Download this spending research report to benchmark your program and use these key lessons from your peers to boost your ethics and compliance programs' effectiveness.
Cybersecurity in the financial services industry is rapidly evolving. Do you know how to stay ahead of the curve?
The financial sector has been a pioneer for vendor risk management (VRM) best practices for a long time. Yes cybersecurity practices are continuing to evolve, and regulatory bodies are focusing more on third-party risk. Are you prepared for these changes?
We'll dive further into this topic in this white paper and exploe:
- How the threat landscape has been changing - and what can you do about it.
- Some challenges the financial industries face in taking on VRM.
- Four proactive tips for better VRM practices that you can put into place today.
Download this free white paper now to better understand the changes to cybersecurity in the financial industry and what you can do about it.
Published By: Lumension
Published Date: Aug 15, 2010
Though most organizations have invested considerable time and effort in improving their endpoint risk management processes, many of them are ill-equipped to handle the myriad of third-party applications that are increasingly introducing the most risk into today's IT environment.
Knowing which steps to take to ensure your organisation remains vigilant against bribery and corruption is an important move. When your organisation is aligned on anti-bribery and corruption policy, training and third party risk, your employees can identify, report and ultimately stamp out—bribery and corruption.
Our Solutions Experts can help you strengthen your most challenging ABC issues and better protect your organisation. Contact us to set up a consultation today at email@example.com.
An effective third-party risk management programme is in your best interest. Not only can you more confidently engage with a growing network of vendors, suppliers, resellers and distributors; but when done effectively, you can have a positive impact on the effectiveness and efficiency of your broad ethics and compliance programme.
NAVEX Global research has shown that organisations pursue strong ethics and compliance programmes for myriad reasons, but at the top is a desire to cultivate and maintain a culture of ethics and respect. A strong third-party risk management solution helps organisations realise that objective through engaging with third parties that abide by codes of conduct, that are transparent and communicative and that you can be proud to do business with.
New digital technology now makes it feasible to integrate process control and SIF within a common automation infrastructure. While this can provide productivity and asset management benefits, if not done correctly, it can also compromise the safety and security of an industrial operation. Cybersecurity and sabotage vulnerability further accentuate the need for securing the safety instrumented system (SIS).
Certainly, a common platform approach using similar hardware and software dedicated for control and safety functions, respectively, can provide the potential for cost savings. However, it is widely acknowledged that utilizing separate, independent, and diverse hardware/software for safety and control is the optimal way to protect against potentially catastrophic common cause and systematic design and application errors.
Different vendors offer varied degrees of integration and solutions. The question is: how to provide an integrated control and safety solution with advanced functionality and productivity without compromising safety and security? And, where do users draw the line?
A third-party (e.g., TÜV) certification of the hardware/software systems to IEC 61508 specifications carries significant advantages, but should this be the only criterion? How does a third-party certificate extend to the plant’s overall assignment of risk reduction credits for all independent protection layers (IPL)? Control system embedded safety logic solvers may actually increase the SIL requirements of the SIF if no credit is allowed for the distributed control system (DCS) as an IPL.
Download the white paper to learn more.
The U.S. Foreign Corrupt Practices Act (FCPA), the U.K. Bribery Act (UKBA), Sapin II and many other Anti-Bribery and Corruption (ABC) laws and regulations around the world make it clear that bribery and corruption is prohibited, illegal and the source of fines, penalties, reputational damage, and in some cases criminal liability. This is particularly true when the bribes are offered to foreign government officials, especially by third parties.
Before examining some of the common red flags and the appropriate courses of action to take, reviewing the various guidelines and frameworks available for organisations to build adequate procedures to protect themselves against third party risks is advisable.
These frameworks have assisted organisations in establishing a strong legal defence in the event that a bribe does occur. These measures are having ramifications across the globe and they inform many of the components of the best ABC programmes in place today.
Download "Continuous Third Party Security Monitoring Powers Business Objectives And Vendor Accountability" (a commissioned study conducted by Forrester Consulting on behalf of BitSight) to learn how companies are continuously managing third party risk.
As third party data breaches have increased in recent years, regulators and organizations have moved from relying solely on static questionnaires and assessments, to continuously monitoring the security of vendors. Learn how financial institutions have adopted a continuous monitoring approach for their vendor risk management programs.
DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
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