Global
Compliance Central®
Affiliate Risk Management
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"More than 60% of survey respondents spent more than 3,000 work hours per year assessing the security controls of third-party service providers, vendors and business partners."
Gartner, Gartner Survey Highlights Company Burden of Vetting Third-Party Security Controls |
Suppliers, partners and service providers are essential to the success of today's organizations. However, these affiliates also present security and compliance risks that must be managed to protect your assets and comply with PCI, GLBA, FFIEC, HIPAA, NERC CIP and other regulations.
Compliance Central® cost-effectively simplifies and standardizes the Affiliate Risk Management process by providing a centralized, web-based platform for self-assessment, risk analysis, compliance validation and ongoing oversight of third-parties and other affiliates.
How Compliance Central Works
Automating Affiliate Risk Management
Communicating your security standards to affiliates, assessing their compliance and reporting on their status are vital, yet time consuming and resource-intensive tasks. Compliance Central automates these tasks, reducing your costs and allowing your staff to focus on more strategic activities.
Analyzing Third-Party Risk
Compliance Central performs rule-based analysis of your third-party relationships to determine the level of risk each affiliate poses to your institution. Based on that analysis, affiliates are required to provide evidence of the controls that best fit their risk profile – ensuring reliable application of your standards which results in more effective affiliate risk management.
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Service Benefits
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Assessing Affiliate Compliance
Performing automated gap analyses of affiliate compliance, Compliance Central removes the burden of manually reviewing affiliate questionnaires and surveys. Leveraging granular rules to analyze and score responses, Compliance Central assesses each affiliate's compliance with your Risk Management program. Non-compliant affiliates are highlighted within Compliance Central, which provides drill-down analysis for identifying specific issues that need to be resolved.
Managing Risk Information
Affiliate Risk Management relies heavily on information about each affiliate's security and compliance programs. Compliance Central helps you manage this information with an organized repository that places affiliate deliverables such as surveys, policies, procedures, certifications, third-party audit reports and attestations at your fingertips. All documentation is maintained and available on demand, supporting your due diligence and audit requirements.
Compliance Central automates compliance management across vendors, merchants, franchisees and other affiliates.
