Managed all 3rd party Risk Assessments and creation of yearly Penetration Tests

Managing third-party risk assessments and yearly penetration tests involves several key tasks to ensure that the organization’s security posture is robust and resilient against external threats. Here are the steps involved:

  1. Identify third-party risks: The first step is to identify the third-party risks that the organization is exposed to. This involves identifying all the third-party vendors, suppliers, and contractors that have access to the organization’s systems and data, and assessing their level of risk.

  2. Prioritize risk assessments: Once the third-party risks are identified, the next step is to prioritize them based on their level of risk. This involves assessing the potential impact of each risk and determining the likelihood of it occurring.

  3. Conduct third-party risk assessments: The next step is to conduct third-party risk assessments to evaluate the security posture of each third-party vendor, supplier, or contractor. This involves assessing their security policies and procedures, performing vulnerability scans and penetration testing, and reviewing their security incident response plans.

  4. Mitigate identified risks: Once the third-party risks are assessed, the next step is to mitigate any identified risks. This involves working with the third-party vendors, suppliers, or contractors to address any vulnerabilities or weaknesses that were identified during the risk assessment.

  5. Conduct yearly penetration tests: In addition to third-party risk assessments, it is recommended to conduct yearly penetration tests to evaluate the security posture of the organization’s internal systems and networks. This involves simulating an attack on the organization’s systems and networks to identify vulnerabilities and weaknesses that could be exploited by external threats.

  6. Implement security improvements: Finally, based on the results of the third-party risk assessments and yearly penetration tests, the organization should implement security improvements to strengthen its security posture. This involves implementing new security policies and procedures, deploying new security technologies, and providing security awareness training to employees.

Overall, managing third-party risk assessments and yearly penetration tests is critical for maintaining a strong security posture and mitigating external threats. It is recommended to involve experienced security professionals in the process to ensure that it is properly executed and optimized for your organization’s needs.