Cyber Security Archives - Page 9 of 11

The Essentials of Third-Party Vendor / Supplier Management Programs

July 13, 2022 by Thomas Canova

Vendor Risk Management (VRM), Third-Party Risk Management (TPRM), and Supplier Risk Management (SRM) are programs that companies employ to assess their relationships with third parties or suppliers for potential risk. The most common types of risk a company will want to evaluate for are regulatory, operational, financial and reputational. The purpose and function of VRM, TPRM and SRM are similar: the core process is to identify, assess, monitor and mitigate risk. The slight variations between each program depend on your company’s … Read more

Understanding ERISA Retirement Plan Sponsors & Administrators Responsibilities

June 24, 2022 by Thomas Canova

What Is the Difference Between a 401(k) Plan Sponsor and a Plan Administrator? Typically, the employer is considered the 401(k) “plan sponsor,” whereas the day-to-day running of the plan may be handled by a third-party “plan administrator.” Understanding the different responsibilities between the plan sponsor and plan administrator is essential to maintain compliance with all … Read more

Retirement Plan Participant Lawsuit Against Transamerica for Data Breach

June 20, 2022 by Thomas Canova

In a lawsuit, he alleges the retirement plan service provider did not take steps to protect the personal information of participants in plans it serves. As the level of awareness of Cybersecurity protection of confidential data has increased, however, so has the size and complexity of the cybersecurity problem from the perspective of plan fiduciary. … Read more

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