Client: Global Bank
Location: Singapore and Australia
Situation: Client had an audit finding regarding the handling of their vendors. The client was given 6 months to resolve the findings.
Ask: The client asked ARInnovate to establish a new cyber security vendor management process on par with industry and in compliance with regulatory requirements.
Our Solution: We implemented the following initiatives :
- An automated process that will provide the cyber security department visibility over vendors onboarded by the different departments.
- Categorisation of vendors specific to cyber security
- Negotiated the addition of new security clauses in supplier agreements with key vendors
- Implemented ongoing monitoring and regular assessment of vendors
- Conducted assessment of more than 70 vendors.