Join FAIR Institute Director of Research Pankaj Goyal in a webinar presented by SIRA (The Society of Information Risk Analysts) for a briefing on FAIR-TAM (FAIR Third Party Assessment Model), the new extension of the FAIR standard that brings cyber risk quantification to the knotty problem of third party risk management (TPRM).
Register now for the webinar FAIR-TAM: A Risk-based Approach to Fix TPRM, Friday, October 25, 2024, 2 PM EST
As Pankaj wrote in his blog post Let’s Kill TPRM, third-party risk management is broken, with CISOs and risk managers unable to answer the basic question “What is our most critical third-party risk, and how efficient is our program in managing that risk?”
Blockers for any effective TPRM program include reliance on:
>>Outside-in scans, old technology, that is more noise than signals and
>>Static, manual, point-in-time questionnaires to assess a highly dynamic environment.
Just how damaging are third-party or supply-chain hacks? The FAIR Institute in a joint project with Safe Security estimates losses with the aid of the FAIR Materiality Assessment Model (FAIR-MAM) at the website How Material Is that Hack?
In this webinar, you will learn how FAIR-TAM gives TPRM a fresh start, achieved with
>>Risk-based prioritization. Understand your data, network, and revenue exposure to a third party and quantify it to focus your TPRM efforts.
>>Comprehensive, continuous monitoring, with both outside-in and inside-out telemetry
>>Actionable risk mitigations. Fix your native controls first, then work with your vendors to mutually improve controls. Automate processes wherever you can.
Pankaj will also discuss the FAIR Institute’s research findings that identified the 10 controls that significantly reduce third-party risk and should be prioritized for initial third-party assessments.
Learn more about FAIR-TAM and attend the TPRM webinar with Pankaj Goyal on October 25, 2024 to get your specific questions answered.
Gain access to the latest developments in TPRM and quantitative cyber risk management - join the FAIR Institute now!
