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Third-Party Risk Manager MSSPS and MSPS

Risk Cognizance Third-party risk management (TPRM) is a form of risk management that focuses on identifying and reducing risks relating to using third parties (sometimes referred to as vendors, suppliers, partners, contractors, or service providers).
Overview

Enhance Efficiency and Reduce Compliance Costs with Risk Cognizance

Risk Cognizance’s Third-Party Risk Manager offers a comprehensive solution to streamline Governance, Risk, and Compliance (GRC) activities. Designed to enhance operational efficiency and reduce compliance costs, our platform empowers businesses to deliver GRC-as-a-Service (GRCaaS) effectively.

Our cloud-based GRC Software Solution Platform assists businesses in managing Governance, Risk, and Compliance requirements with ease. Risk Cognizance provides the tools to stay ahead of compliance demands, manage risks proactively, and uphold governance standards effectively.

By leveraging our comprehensive suite of GRC tools, businesses can automate compliance tasks, streamline risk management processes, and maintain a proactive approach to security operations.

What Is Third-Party Risk and Why Is It a Concern?

Third-party risk is the potential for a primary organization to suffer a data breach or be negatively impacted via connections to external organizations. Common third parties include suppliers, vendors, partners, service providers, and contractors with access to privileged information such as customer data or internal company systems.

While organizations often implement robust cybersecurity measures internally, third-party relationships significantly increase risk by potentially offering easier entry points into systems and networks. Managing these risks is critical to maintaining data integrity and operational security.

Compliance Risk Management Platform with 6 Tools 

Designed around  CISOs, CIOs, CTOs, and vCISOs compliance management programs, our solution enables the delivery of GRC-as-a-Service on top of the Risk Cognizance GRC and Incident Management Platform.

Integrated Risk Management Platform

Gain comprehensive visibility into potential risks across your entire client base. Risk Cognizance GRC platform enables you to identify, assess, and prioritize risks with intuitive dashboards and real-time analytics, helping you deliver proactive risk management services.

Compliance Automation Platform

CISOs, CIOs, CTOs, and vCISOs can automate complex compliance tasks with our GRC platform, simplifying the process of adhering to standards like ISO 27001, NIST, GDPR, and others. With built-in compliance templates, you can easily manage client audits, track compliance status, and generate detailed reports.

Policy Management Software

Centralize the creation, management, and distribution of security policies across all client environments. Risk Cognizance provides a user-friendly interface for drafting policies, obtaining approvals, and maintaining an up-to-date policy repository that supports governance needs.

Governance, Risk, and Compliance (GRC) Software

Third-party Risk Management Platform 

Ransomware Susceptibility Report 

Attack Surface Management Platform

Artificial Intelligence Platform

Key Features of Risk Cognizance Third-Party Risk Manager Software:

  • Integrated Risk Management Platform
    Gain comprehensive visibility across your organization and identify, assess, and prioritize risks. Real-time analytics and intuitive dashboards allow you to provide proactive risk management across all business functions.
  • Compliance Automation Platform
    Automate complex compliance tasks and simplify adherence to industry standards such as ISO 27001, NIST, GDPR, PCI-DSS, and more. Manage audits, track compliance status, and generate detailed reports effortlessly.
  • Policy Management Software
    Centralize the creation, management, and distribution of security policies. Maintain an up-to-date policy repository that supports the governance needs of your FinTech organization.
  • Third-Party Risk Management Platform
    Manage third-party risks effectively by evaluating vendors, monitoring their compliance status, and ensuring that your partners’ operations align with your organization’s risk standards.
  • Ransomware Susceptibility Report
    Assess your organization’s vulnerability to ransomware and implement strategic defenses based on real-time reports to mitigate threats.
  • Attack Surface Management Platform
    Identify, assess, and mitigate potential vulnerabilities across your digital infrastructure to protect sensitive financial data and systems.
  • Artificial Intelligence (AI) Platform
    Leverage AI-driven insights for real-time threat intelligence and risk analysis, enhancing your proactive risk mitigation strategies.

GRC Software Tools for Third-Party Risk Management

1. Integrated Risk Management Platform

Gain comprehensive visibility into risks across all third-party relationships. Our intuitive dashboards and real-time analytics help identify, assess, and prioritize risks, enabling proactive risk management.

2. Compliance Automation Platform

Automate compliance tasks with built-in templates for standards like ISO 27001, NIST, GDPR, and others. Streamline audits, compliance tracking, and generate detailed reports effortlessly.

3. Policy Management Software

Centralize the creation, management, and distribution of policies. Maintain an up-to-date repository to support governance needs across all third-party relationships.

4. Third-Party Risk Management Platform

Monitor and evaluate vendor compliance and security postures. This feature ensures that supply chains remain secure and resilient to potential threats.

5. Attack Surface Management Platform

Minimize vulnerabilities by gaining insights into external threats and securing your organization’s digital footprint.

6. Artificial Intelligence Platform

Leverage AI-powered tools for advanced threat detection, automated decision-making, and predictive analytics to enhance overall risk management.

Key Benefits of Third-Party Risk Manager

Scalable Risk Management

Scale seamlessly with your growing third-party ecosystem. Risk Cognizance’s platform accommodates expanding operations without compromising security or compliance.

Enhanced Value to Stakeholders

Deliver superior value by proactively managing third-party risks and streamlining compliance processes. The Risk Cognizance platform supports your business in maintaining a competitive edge.

Improved Incident Response

Integrate with existing tools to provide real-time risk and compliance data. Address issues swiftly, minimizing the impact of potential threats on operations.

Features Tailored for Third-Party Risk Management

Risk Assessment and Reporting

Conduct detailed risk assessments and generate comprehensive reports to provide actionable insights into vulnerabilities and mitigation strategies.

Compliance Tracking and Reporting

Automate compliance tracking and generate audit-ready reports that identify gaps and ensure adherence to regulatory standards.

Vendor Risk Management Platform

Evaluate and monitor third-party risks effectively, safeguarding your organization’s supply chains.

Audit Management Software

Simplify audit planning, execution, and reporting to ensure continuous compliance across all third-party engagements.

Incident Management Product

Track and resolve incidents with structured workflows, escalation procedures, and automated notifications, ensuring efficient resolution.

Policy and Control Mapping

Align policies with compliance controls and regulatory requirements, simplifying the management of security measures.

Why Choose Risk Cognizance?

Tailored for Third-Party Risk Management

Our platform is specifically designed to meet the unique challenges of managing third-party risks and complex supply chain environments.

Comprehensive Compliance Management

Support for a wide range of standards and frameworks ensures your organization remains compliant, even as regulations evolve.

Seamless Integration

Integrate seamlessly with your existing security stack, maximizing the value of current tools and enhancing GRC capabilities.

Expert Support and Guidance

Access dedicated support from Risk Cognizance’s team of professionals, ensuring smooth implementation and ongoing operations.

Get Started with Risk Cognizance GRC Platform

Empower your organization with the industry-leading Third-Party Risk Manager from Risk Cognizance. Streamline compliance, enhance risk management, and safeguard your operations. Contact us today to learn how our platform can transform your risk management processes.

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