As IT risk management and security professionals steel themselves for another year of high-profile breaches, increasingly sophisticated attacks and continued regulatory scrutiny on their controls, now may be the perfect time to re-examine risk management priorities. While every organization is unique, risk management pundits believe there are certain common initiatives that could stand more attention among many enterprises. The following five resolutions—listed in no particular order--are among the top ways that risk managers can take their practices to the next level in 2014.

Resolution #1: Improving Third-Party Risk Management

As news of more breaches and security incidents caused by third-parties make the news, enterprises and regulatory bodies alike are sharpening their focus on risks posed by vendors and partners entrusted with their data. According Andrew Wild, CSO of Qualys, he expects third-party risk management to be a key area of focus for IT risk professionals this year.

"The growing reliance upon third parties requires a mature third party risk management program to ensure risks are properly identified, assessed and managed," Wild says, pointing to new regulatory requirements such as the guidance issued for banking institutions by the U.S. Office of the Comptroller of the Currency. "However, even organizations with no regulatory or compliance program requirements for third party risk management face increased scrutiny from customers about third party risk management." Read full story on Dark Reading


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