Entities in the finance, insurance, healthcare, and other highly regulated industries must comply with an
increasingly complex maze of breach notification rules. Adding third-party notification obligations to the mix makes an already difficult task nearly impossible to manage.
Organizations owning or processing regulated data can have hundreds if not thousands of clients, business associates, service providers, and other external entities with whom they do business. These business relationships mandate protection of regulated data and require notification to the data owners if there is an unauthorized disclosure of the data due to malicious or inadvertent incidents.
Until now, managing third-party notifications has been a manual, time-consuming process that requires sifting through contracts, and creates risk of noncompliance. Contractual notification obligations are often measured in hours or days rather than weeks or months, providing a major challenge to compliance. Noncompliance can result in serious consequences, including termination of relationships if obligations are not satisfied.
Third-Party Notification Module
With this patented feature, you can manage contractual notification obligations for both your upstream and downstream business relationships with clients, service providers, and business associates.
For managing upstream notification obligations to your clients, Radar seamlessly extends its regulatory workflow to identify and provide guidance on all relevant incidents involving client data and third-party notification requirements.
For tracking downstream notification obligations from service providers or business associates that process your data, Radar establishes a process for managing and gaining insights about which of your downstream entities pose high risk to your organization and how well they comply with their notification obligations.
You can take advantage of a fully integrated Radar workflow to manage all regulatory and third-party incident response obligations, prove compliance, and mitigate risks stemming from incidents involving your own data or data that you process for your clients.
Third-Party Notification module:
- Efficiently manages your third-party notification obligations with clients or upstream entities (who you must notify)
- Effectively monitors compliance by your service providers or downstream entities (who must notify you)
- Uses the Radar Breach Guidance Engine™ to assess the risk associated with an incident, and determine whether one or multiple clients must be notified
- Captures important contractual notification details for each external entity, including multiple notification timelines and contacts
- Provides easy tracking of notification due dates and proof of compliance with contractual obligations
- Allows for a nuanced configuration in which downstream entities act as an agent of your organization, to more accurately specify the correct incident discovery date
- Tracks if your downstream entities remain compliant with contracts, so you may better identify which entities present a risk to your business
- Grants access to designated users from relevant departments to create and manage third-party notifications, freeing up Administrators and Owners
- Offers custom tagging to enable viewing of notification obligations relative to your business
Optimize Cross-Functional Collaboration
To streamline operational efficiency within your organization and simplify compliance, the Radar Editor user role can create and manage third party notification configurations independent of Administrator or Owner roles. In addition, you can consolidate third parties and their obligations into a single screen with a sortable view of obligations by timeline to easily identify and prioritize notification timelines in order to meet contractual obligations.
Managing PCI Incidents with Third-Party Notification Module
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards that apply to companies working with and associated with payment cards, including merchants, financial institutions, point-of-sale vendors, and hardware or software developers who create and operate the global infrastructure for processing payments.
If your organization’s PCI data is compromised in an incident, that incident must undergo a multi-factor risk assessment in order to determine if the incident qualifies as a data breach and requires notification to state and federal regulators.
In addition, your organization may be contractually obligated to notify multiple credit card issuers, merchants, and associations of this data breach. The Third-Party Notification module can help meet these notification requirements for incidents involving PCI data.
Explore How Radar Works
Make the Right Notification Decisions with Less Effort
Radar is the only solution with automated risk scoring and breach notification decision-support, helping you avoid the pitfalls of over- and under-notifying.
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