Risk Assessment

Risk Assessment

PII inventory, AICPA/CICA GAPP, GLBA, states privacy / security / breach laws, and IT security audit and compliance planning.

Spend Your Money Wisely

The cost of a risk assessment is less than 1% of the average cost of a data breach. Even so, your organization may not have the time or expertise to conduct its own risk assessment — a vital step in achieving security and privacy compliance and preventing data breaches.

ID Experts' privacy, security and data breach risk assessments expose the PII-specific risks across your financial institution's policies, processes and IT systems — and identifies the gaps between your current practices and what is required by state and federal laws, including GLBA, FCRA and Red Flags. Based on this gap analysis, we customize a plan for mitigating the risk of a data breach and help you achieve compliance with relevant regulations.

ID Experts' assessment tools and services include:

Breach HealthCheck™, an online self-assessment tool that lets you measure your data breach exposure and protection level. You'll quickly see any gaps between your level of exposure to data breach incidents and your financial institution's level of protection. With the analysis Breach HealthCheck provides, you'll be able to better prioritize where to focus your data breach risk mitigation investment.

Privacy and Security Risk Assessment, performed by CIPP-certified privacy experts, offers a fast, accurate and cost effective audit of your compliance program necessary for compliance with the relevant federal and state(s) privacy regulations. This assessment documents how PII is collected, managed and shared; evaluates compliance gaps; and provides prioritized recommendations for achieving compliance. Our team can assess third-party contractors, training programs, incident response plans and incident risk assessment processes.

IT Security Risk Assessment evaluates the state of your information security systems by identifying internal and external weaknesses, analyzing your policies and procedures, examining your physical infrastructure and recommending appropriate mitigation measures. This assessment helps your financial institution achieve compliance with the appropriate regulations and ensures customer data is well protected.

Identifying and mitigating your risks can protect your customers and your reputation. Call us today to learn more.

To download our Risk Assessment datasheet click here.