Second Party Risk Management

Second-party risk management (SPRM) in the context of cybersecurity is the process of identifying, assessing, and mitigating the risks associated with a direct business partner or vendor that has access to your organization's systems, data, or network. It involves evaluating the security posture of your vendors and ensuring they have adequate controls to protect your sensitive information.

SPRM is essential because a security incident at a second party can directly impact your organization. This could lead to data breaches, operational disruptions, regulatory fines, and reputational damage.

Key aspects of SPRM include:

• Identifying your vendors: Understanding who your vendors are and the nature of your relationship with them.

• Assessing their security posture: Evaluating their security controls, policies, and procedures.

• Mitigating risks: Implementing contractual obligations, security assessments, and continuous monitoring.

• Ongoing monitoring: Regularly reviewing and updating your SPRM program to address new threats and changes in your vendor ecosystem.

SPRM is crucial for maintaining a strong security posture and protecting your organization from potential cyber threats originating from your business partners.

ThreatNG can play a crucial role in Second-Party Risk Management (SPRM) by providing comprehensive visibility into the security posture of your vendors and offering tools to assess and mitigate potential risks. Here's how ThreatNG's capabilities align with SPRM needs:

Discovery and Assessment

ThreatNG's external attack surface management capabilities enable you to identify and assess the security posture of your vendors. The platform automatically discovers and maps your vendors' digital assets, including their websites, subdomains, IP addresses, and cloud services. ThreatNG then assesses these assets for vulnerabilities, misconfigurations, and other security risks. This information helps you understand the security posture of your vendors and prioritize your risk mitigation efforts.

Continuous Monitoring

ThreatNG provides continuous monitoring of your vendors' digital assets. The platform alerts you to new vulnerabilities, changes in security posture, and other potential risks. This real-time visibility helps you proactively address emerging threats and ensure that your vendors maintain adequate security controls.

Investigation Modules

ThreatNG's investigation modules offer in-depth analysis of your vendors' security posture. These modules provide detailed information on various aspects of their digital presence, including domain names, IP addresses, certificates, social media activity, and code repositories. This information helps you identify potential vulnerabilities and assess the overall risk posed by each vendor.

Intelligence Repositories

ThreatNG leverages a wealth of threat intelligence data to enrich its risk assessments. The platform's intelligence repositories include information on known vulnerabilities, compromised credentials, ransomware events, and other cyber threats. This data helps you identify potential risks associated with your vendors and prioritize your mitigation efforts.

Reporting

ThreatNG offers various reporting options to communicate risk information to stakeholders. The platform's reports provide clear and concise summaries of your vendors' security posture, highlighting key risks and mitigation recommendations. These reports help you keep your organization informed about potential threats and ensure that everyone is aligned on risk management priorities.

Complementary Solutions and Examples

ThreatNG can work alongside other security solutions to enhance your SPRM program. For example, ThreatNG can integrate with:

• Security Information and Event Management (SIEM) systems: ThreatNG can feed threat intelligence data into your SIEM, providing context for security events and helping you identify potential attacks originating from your vendors.

• Threat intelligence platforms (TIPs): ThreatNG can complement your TIP by providing additional context and visibility into the security posture of your vendors.

• Governance, Risk, and Compliance (GRC) tools: ThreatNG can integrate with your GRC tools to automate risk assessments and track mitigation efforts.

Examples of ThreatNG in action:

• ThreatNG discovers that a vendor is using an outdated version of a web server with a known vulnerability. You can then use this information to request that the vendor update their server or implement compensating controls.

• ThreatNG detects a spike in social media chatter about a potential data breach at a vendor. You can then investigate the issue and take steps to mitigate any potential impact on your organization.

• ThreatNG identifies that a vendor has exposed sensitive data in a public code repository. You can then work with the vendor to secure the data and prevent unauthorized access.

By combining ThreatNG's capabilities with other security solutions, you can create a comprehensive SPRM program that provides visibility, assessment, and mitigation of risks across your direct supply chain.