Did you know that educational institutions are entrusted with the confidential data of millions of students across the United States? With the increasing reliance on third-party vendors and applications, the need for effective third-party risk management in education has never been more critical.
Key Takeaways:
- Education institutions handle vast amounts of student data that require protection and compliance.
- The use of third-party vendors and applications introduces potential risks to student data security.
- Understanding third-party risks and implementing risk management strategies are crucial for educational institutions.
- Mitigating third-party risks involves vetting vendors, implementing security controls, and ongoing monitoring.
- The future of third-party risk management in education lies in continuous education and advanced risk management strategies.
Understanding Third-Party Risk
Third-party risk refers to the potential risks faced by schools and organizations from external parties or systems. In the context of K–12 schools, there are two categories of third-party risks: known vendors with signed agreements and unknown vendors with access to school systems. With a large number of edtech tools being used in districts, understanding how these vendors use data and the extent of their access becomes essential.
Known Vendors
Known vendors are those with whom the school has entered into formal agreements. These agreements outline the terms and conditions for data access and usage by the vendor. It is critical for schools to carefully review and assess these agreements to ensure they align with data protection regulations and best practices. By understanding the data access rights and limitations of known vendors, schools can make informed decisions about their risk exposure.
Unknown Vendors
Unknown vendors pose a higher level of risk as they may have access to school systems without a formal agreement. These vendors could include individual teachers or administrators who bring in external tools or services without proper vetting. The lack of visibility into the data access and usage practices of unknown vendors makes it challenging to assess and mitigate potential risks. Schools should prioritize identifying and evaluating unknown vendors to minimize their exposure to third-party risks.
Data Access and Usage
Data access and usage by third-party vendors is a crucial aspect of third-party risk management. Schools must have a clear understanding of the data access permissions granted to vendors and the purposes for which the data will be used. This includes considering whether vendors have access to sensitive student data and how they handle data security and privacy. By establishing strict protocols and monitoring data access by third parties, schools can effectively mitigate the associated risks.
Known Vendors | Unknown Vendors |
---|---|
• Formal agreements • Defined data access rights • Clear limitations | • Lack of formal agreements • Unclear data access • Higher risk exposure |
• Vendor vetting and evaluation • Compliance with data protection regulations | • Identification and assessment of unknown vendors • Risk mitigation strategies |
Vulnerabilities in K–12 Schools
K–12 schools face several vulnerabilities when it comes to third-party risks. These vulnerabilities stem from a lack of cybersecurity expertise within smaller IT departments, the use of unauthorized applications through shadow IT practices, and the failure to regularly update software.
Lack of Cybersecurity Expertise
Smaller IT teams in K–12 schools often struggle with a lack of specialized knowledge in handling cybersecurity effectively. This knowledge gap makes it easier for students and educators to introduce unauthorized applications into the network, increasing the risk of data breaches and security compromises.
Shadow IT Practices
The prevalence of shadow IT practices in K–12 schools further exacerbates the vulnerabilities. Shadow IT refers to the use of unauthorized applications or services by individuals without the knowledge or approval of the IT department. This introduces additional security risks as these applications may not have been properly vetted for data privacy and security measures.
Failure to Update Software
K–12 schools often fall behind in updating software, leaving their systems exposed to known vulnerabilities. Outdated software may lack critical security patches and updates, making it easier for cybercriminals to exploit weaknesses and gain unauthorized access to sensitive data.
Vulnerability | Description |
---|---|
Lack of Cybersecurity Expertise | Smaller IT teams in K–12 schools lack the specialized knowledge required to handle cybersecurity effectively. |
Shadow IT Practices | Unauthorized applications and services introduced without the knowledge or approval of the IT department. |
Failure to Update Software | Outdated software leaves systems exposed to known vulnerabilities and exploits. |
To address these vulnerabilities, K–12 schools need to prioritize cybersecurity expertise, enforce strict policies to curb shadow IT practices, and implement regular software updates and patching. By taking proactive measures, schools can significantly reduce third-party risks while safeguarding their students’ sensitive data and maintaining a secure digital environment.
Protecting Schools from Third-Party Risks
School IT administrators play a crucial role in safeguarding data and networks from potential third-party risks. By implementing robust security controls in cloud-based environments and conducting regular audits, schools can mitigate vulnerabilities and enhance their overall cybersecurity posture.
Implementing Security Controls in Cloud-Based Environments
Cloud-based environments offer numerous benefits for educational institutions, including scalability, cost-effectiveness, and ease of collaboration. However, it’s essential to implement appropriate security controls to prevent unauthorized access and protect sensitive data.
Adjusting settings in popular cloud platforms such as Microsoft and Google can help limit the installation of unauthorized applications. By carefully configuring permissions and access levels, schools can ensure that only trusted and vetted applications have access to their systems.
Conducting Audits and Vetting Vendor Agreements
Regular audits of new applications and vendor agreements are critical for identifying potential risks and ensuring compliance with data protection regulations. Schools should establish thorough assessment criteria to evaluate the security practices and data handling capabilities of third-party vendors.
When vetting vendor agreements, schools should pay close attention to the vendor’s track record, data protection practices, and incident response procedures. Legal and procurement teams should thoroughly review and negotiate contract terms to protect the institution’s interests.
Consider Outsourcing Security Processes
Due to the complexities of managing cybersecurity in educational institutions, schools may consider outsourcing certain security processes to specialized partners. Collaborating with experienced Managed Security Service Providers (MSSPs) or hiring dedicated cybersecurity firms can enhance the capabilities of school IT departments.
Outsourcing security processes allows schools to leverage the expertise and resources of external professionals, ensuring a robust and proactive approach to protecting sensitive data and networks. MSSPs can provide continuous monitoring, threat intelligence, incident response, and regular security assessments to ensure schools stay a step ahead of potential risks.
By implementing security controls, conducting audits, and considering outsourcing options, schools can enhance their ability to protect against third-party risks. Effective third-party risk management is essential in maintaining the integrity of educational institutions’ data and ensuring student privacy in an increasingly interconnected digital landscape.
Mitigating Third-Party Risks in K-12 Districts
To effectively mitigate third-party risks, K–12 districts can establish a robust third-party risk management program. This program involves implementing various measures such as creating a formal policy for evaluating vendors, implementing a vendor assessment process, maintaining a list of approved vendors, conducting ongoing monitoring, and performing regular internal audits. Additionally, partnering with trusted vendors who specialize in K–12 district security can enhance the overall risk mitigation efforts.
Creating a Formal Policy
One of the first steps in mitigating third-party risks is to create a formal policy that outlines the criteria and requirements for evaluating vendors. The policy should define the standards for data security, compliance, and privacy, ensuring that all potential vendors meet these requirements. It should also include guidelines for ongoing monitoring and periodic reassessment to maintain the integrity of the vendor relationships.
Implementing a Vendor Assessment Process
Having a structured vendor assessment process is essential in evaluating the capabilities and risks associated with each vendor. This process should involve thoroughly vetting vendors by evaluating their security measures, data handling practices, and overall cyber hygiene. It is important to consider factors such as the vendor’s experience with K–12 districts, references from other schools, and their track record in maintaining security and compliance.
Maintaining a List of Approved Vendors
In order to streamline vendor management and mitigate risks, it is advisable to maintain a list of approved vendors. This list should include vendors who have successfully passed the assessment process and meet the predetermined standards set by the school district. It helps ensure that only trusted vendors are engaged and reduces the chance of unauthorized vendors accessing the systems and data.
Ongoing Monitoring and Internal Audits
To effectively manage third-party risks, it is crucial to monitor the vendors and their activities continuously. This can be done through regular audits and ongoing monitoring of the vendors’ performance, security practices, and compliance with the established policies. Internal audits help identify any potential vulnerabilities or non-compliance issues, allowing prompt action to be taken to mitigate risks and ensure data protection.
Partnering with Trusted Vendors
Building strong vendor relationships is an essential part of effective third-party risk management. Schools should prioritize partnerships with trusted vendors who specialize in K–12 district security. These vendors have a deep understanding of the unique challenges and requirements of educational institutions and can provide tailored solutions to mitigate risks effectively.
Risk Mitigation Measures | Description |
---|---|
Creating a Formal Policy | Establishing a policy that outlines evaluation criteria, data security standards, and guidelines for ongoing monitoring. |
Implementing a Vendor Assessment Process | Thoroughly evaluating vendors’ security measures, data handling practices, and cyber hygiene. |
Maintaining a List of Approved Vendors | Keeping a record of trusted vendors who meet the predetermined standards and reducing the risk of unauthorized access. |
Ongoing Monitoring and Internal Audits | Regularly monitoring vendors’ performance, security practices, and compliance, and conducting internal audits to identify vulnerabilities. |
Partnering with Trusted Vendors | Collaborating with specialized vendors who understand the unique challenges of K–12 districts and provide tailored solutions. |
Third-Party Risk Management in Higher Education
Third-party risk is a significant concern not only for K–12 schools but also for higher education institutions. The interconnected nature of higher education networks, coupled with the reliance on third-party tools and services, makes colleges and universities vulnerable to indirect attacks through vendor breaches. To mitigate these risks, it is crucial for higher education institutions to implement robust third-party risk management solutions, establish effective policies, and adopt good cyber hygiene practices.
Interconnectedness of Higher Education Networks
Higher education institutions have intricate networks that facilitate various operations, ranging from student services to research activities. These networks often rely on third-party tools and services to enhance functionality and efficiency. However, this interconnectedness also exposes these institutions to potential risks. A breach in one vendor’s system can have ripple effects across the entire network, compromising sensitive data and undermining the institution’s cybersecurity efforts.
The Impact of Third-Party Breaches
Third-party breaches can have severe consequences for higher education institutions. In addition to the immediate compromise of sensitive data, these breaches can result in reputational damage, financial losses, regulatory penalties, and legal liabilities. The exposure of student and faculty data can have long-lasting implications for both individuals and the institution as a whole, highlighting the critical need for effective third-party risk management.
Vendor Risk Management in Higher Education
Vendor risk management is a crucial aspect of protecting higher education institutions from third-party risks. It involves evaluating and monitoring vendors’ security practices, ensuring compliance with data protection regulations, and establishing strong relationships based on trust and accountability. By implementing a comprehensive vendor risk management program, higher education institutions can effectively assess and mitigate the potential risks associated with third-party partnerships.
Benefits of Vendor Risk Management
Vendor risk management provides numerous benefits to higher education institutions, including:
- Enhanced cybersecurity posture
- Improved data protection measures
- Reduction in the likelihood and impact of breaches
- Optimized vendor selection and evaluation processes
- Streamlined compliance with data privacy regulations
- Increased stakeholder confidence in data security
Examples of Vendor Risk Management Strategies
Vendor Risk Management Strategy | Description |
---|---|
Comprehensive vendor assessment | Evaluate vendors against predefined criteria, including security practices, data handling processes, and compliance with relevant regulations. |
Ongoing monitoring and audits | Regularly review vendors’ security practices, conduct audits, and monitor for any changes that may impact data protection. |
Clear contractual agreements | Establish robust contracts that clearly define each party’s responsibilities, liability, and data protection obligations. |
Regular vulnerability assessments | Perform periodic vulnerability assessments on systems and applications provided by third-party vendors to identify and remediate potential weaknesses. |
Continuous vendor performance evaluation | Regularly assess vendor performance to ensure ongoing adherence to security standards and compliance requirements. |
Importance of Vendor Risk Management
In the higher education sector, vendor risk management plays a critical role in ensuring data security, student safety, and compliance with regulations. By implementing effective vendor risk management strategies, institutions can take proactive steps to safeguard sensitive information, mitigate potential threats, and maintain the integrity of their operations.
The Role of Vendor Risk Management
Vendor risk management involves assessing and managing the risks associated with external vendors and their relationships with the institution. This process enables higher education institutions to evaluate the security protocols and data privacy practices of their vendors to ensure they align with the institution’s requirements and compliance regulations. By establishing clear key performance indicators and vetting vendors thoroughly, institutions can ensure that their partners are addressing security concerns effectively.
Understanding the scope and nature of vendor relationships is essential for effective risk management. This involves identifying the access that vendors have to sensitive data and evaluating their ability to protect the data from unauthorized access or breaches. Additionally, institutions must assess the data privacy practices of vendors and ensure they comply with relevant regulations, such as the Family Educational Rights and Privacy Act (FERPA) and the General Data Protection Regulation (GDPR).
Compliance and Student Safety
Vendor risk management is not only crucial for data security but also for maintaining compliance with regulations. Compliance requirements vary depending on the institution and the type of data being handled. By thoroughly vetting vendors and assessing their compliance practices, institutions can ensure that their operations align with regulatory standards and avoid potential legal and financial consequences.
Furthermore, vendor risk management plays a significant role in ensuring student safety. Educational institutions handle vast amounts of student data, including personal information and academic records. By implementing comprehensive risk management strategies, institutions can protect student data from unauthorized access, breaches, and misuse, prioritizing the safety and privacy of their students.
Establishing a Comprehensive Vendor Risk Management Program
Institutions can establish a comprehensive vendor risk management program by considering the following steps:
- Developing a clear policy for evaluating and selecting vendors based on their security protocols and data privacy practices.
- Implementing a structured vendor assessment process to evaluate the risks associated with potential vendors.
- Maintaining a list of approved vendors who have undergone rigorous assessments and meet the institution’s security and compliance requirements.
- Conducting ongoing monitoring of vendors to ensure they continue to meet the institution’s security standards.
- Performing regular internal audits to assess the effectiveness of the vendor risk management program and identify any potential gaps or areas for improvement.
By implementing these practices, higher education institutions can enhance their ability to manage vendor-related risks, strengthen data security, and ensure compliance with regulations, ultimately safeguarding the institution and its stakeholders.
Mitigating Third-Party Risks in Higher Education
In the rapidly evolving landscape of higher education, mitigating third-party risks is crucial for protecting sensitive data and ensuring network security. By implementing comprehensive risk management strategies, institutions can proactively address the potential vulnerabilities associated with third-party relationships. These strategies encompass various aspects, including integrated risk management solutions, policy implementation, network defense, data governance, and ongoing education and training on cyber safety.
Integrated Risk Management Solutions
Integrated risk management solutions provide higher education institutions with the tools and capabilities to effectively identify, assess, and mitigate third-party risks. These solutions offer streamlined processes for vendor assessment, risk evaluation, and compliance management. By leveraging technology, institutions can centralize and automate risk management practices, ensuring a proactive approach to risk mitigation.
Policy Implementation
Clear and well-defined policies are essential for managing third-party risks. Higher education institutions should establish policies that outline expectations and requirements for third-party vendors. These policies should cover areas such as data security, access controls, and compliance with industry or regulatory standards. Regular enforcement and communication of these policies help ensure that vendors understand and adhere to the institution’s risk management guidelines.
Network Defense
Developing robust network defense mechanisms is vital for protecting against external threats and unauthorized access through third-party relationships. Higher education institutions can implement network segmentation and privileged access management strategies to limit the exposure of sensitive data to third-party vendors. By structuring networks effectively and monitoring access privileges, institutions can enhance security and reduce the potential impact of third-party risks.
Data Governance and Audits
Data governance plays a critical role in mitigating third-party risks. Higher education institutions should establish comprehensive data governance frameworks that define processes for data classification, access controls, and data lifecycle management. Regular audits help assess the effectiveness of data governance practices and identify areas for improvement. These audits also provide insights into potential vulnerabilities and ensure the institution’s compliance with relevant data protection regulations.
Ongoing Education and Training
Effective risk mitigation requires a proactive approach involving ongoing education and training for all stakeholders, including students, faculty, and staff. Higher education institutions should invest in cyber safety awareness programs and training sessions that promote safe practices when interacting with third-party applications, systems, and services. By fostering a culture of cybersecurity awareness, institutions can empower their community to become active participants in network security and risk management.
Post-Breach Actions in Higher Ed
In the unfortunate event of a data breach involving a third-party vendor, it is imperative for higher education institutions to prioritize swift response and mitigation rather than assigning blame. Following a breach, it is crucial to conduct a thorough investigation to uncover the root cause and assess the impact on users.
The investigation process should involve a comprehensive analysis of the data breach, including the nature and extent of the compromised data, the vulnerabilities exploited, and potential risks to users and systems. By understanding these details, institutions can develop an effective response strategy to minimize the impact on users and prevent future breaches.
As part of the response efforts, it is important to evaluate the vendor relationship that led to the breach. This assessment will help determine the future of the partnership and whether additional safeguards or changes are necessary to protect sensitive data. While addressing the breach, institutions should also review their data governance practices, ensuring alignment with industry standards and regulatory requirements.
Key Actions for Post-Breach Response:
- Conduct a thorough investigation to identify the root cause of the breach and assess the impact on users.
- Evaluate the vendor relationship and determine the appropriate course of action.
- Implement measures to mitigate the impact on users, such as providing notification and support.
- Review and strengthen data governance policies and procedures to prevent future breaches.
By taking these post-breach actions, higher education institutions can demonstrate a proactive approach to data breach response, protect user information, and maintain the trust of students, faculty, and staff.
Action | Description |
---|---|
Conduct Investigation | Thoroughly investigate the breach to understand the root cause and assess user impact. |
Evaluate Vendor Relationship | Assess the vendor’s responsibility in the breach and determine the future of the partnership. |
Mitigate Impact on Users | Take steps to minimize the impact on affected users, such as providing notification and support. |
Review Data Governance | Examine and enhance data governance policies and procedures to prevent future breaches. |
The Role of Automation in Third-Party Risk Management
Automation plays a significant role in effective third-party risk management. By utilizing automation through risk management solutions, educational institutions can streamline their monitoring and compliance-check processes, leading to more efficient identification and resolution of potential risks.
One of the key advantages of automation is its ability to maintain visibility over third-party applications on the network. By automating the monitoring process, schools can easily identify unauthorized access and take immediate action to mitigate any network security threats.
Implementing automated solutions not only saves time and effort for IT administrators but also enhances the overall effectiveness of risk management strategies. By automating compliance-check processes, schools can ensure that third-party vendors are meeting the necessary regulatory requirements, minimizing the risk of non-compliance.
Furthermore, automation enables educational institutions to proactively address potential risks before they escalate. Through continuous monitoring and automated risk assessment, schools can quickly identify emerging vulnerabilities and take proactive steps to address them, reducing the likelihood of a breach or security incident.
In summary, automation plays a crucial role in third-party risk management by simplifying and accelerating various processes, including monitoring, compliance-checks, and network security. By leveraging automation, educational institutions can strengthen their risk management frameworks and better protect student data and networks from potential threats.
Best Practices for Evaluating Third-Party Vendors
When evaluating third-party vendors, educational institutions must establish clear assessment criteria to ensure data security, compliance, and privacy. By following best practices in vendor evaluation, schools can minimize the potential risks associated with third-party partnerships.
Evaluation Criteria
Vendor assessment should encompass various factors to gauge their suitability. Schools should consider the following criteria:
- Data Security: Evaluate the vendor’s approach to data protection, including encryption measures, access controls, and incident response protocols.
- Compliance: Assess the vendor’s adherence to relevant regulations and industry standards, such as FERPA and COPPA in the K-12 education sector.
- Privacy Policies: Scrutinize the vendor’s privacy policies to ensure they align with applicable laws and prioritize safeguarding student and staff personal information.
- Software Security: Examine the vendor’s software security measures, such as regular vulnerability assessments, patch management, and secure coding practices.
- Implementation: Consider the learning curve associated with implementing the vendor’s solution or service to ensure a smooth integration process.
- Cost Factors: Evaluate the vendor’s pricing structure, including any hidden fees, scalability options, and long-term costs.
Approved Vendor List and Audits
Establishing a list of approved vendors can help streamline the procurement process and ensure that only trusted partners are considered. Regular assessments and audits should be conducted to monitor vendor performance and ensure ongoing compliance with established evaluation criteria.
**TABLE**
| Vendor | Data Security | Compliance | Privacy Policies | Software Security | Implementation | Cost Factors |
|:———|:————-|:———–|:—————–|:—————–|:—————|:————-|
| Vendor A | ✔ | ✔ | ✔ | ☐ | ☐ | ✔ |
| Vendor B | ✔ | ☐ | ✔ | ☐ | ☐ | ☐ |
| Vendor C | ☐ | ✔ | ✔ | ✔ | ✔ | ☐ |
| Vendor D | ✔ | ☐ | ☐ | ✔ | ✔ | ☐ |
Reducing Vulnerability to Third-Party Risks
In addition to evaluating vendors, educational institutions can implement additional measures to mitigate third-party risks:
- Security Controls: Define and enforce robust security controls within cloud-based environments to limit unauthorized application downloads.
- Permissions and Access Management: Implement strict permission management practices to ensure that vendors only have access to the necessary systems and data.
- Ongoing Monitoring: Continuously monitor vendor activities to detect any deviations from agreed-upon terms and identify potential risks.
- Outsourcing: Consider outsourcing certain security processes to specialized partners who possess the expertise and resources to effectively manage third-party risks.
By adhering to best practices for vendor evaluation and taking proactive measures to reduce vulnerability, educational institutions can enhance their third-party risk management strategies and protect student data, maintain compliance, and ensure privacy across their systems and applications.
The Future of Third-Party Risk Management in Education
The landscape of third-party risk management in education is continuously evolving. With the ever-changing cybersecurity landscape, it is crucial for educational institutions to stay updated on emerging threats, regulatory frameworks, and best practices. By doing so, they can safeguard their sensitive data and effectively mitigate risks.
Continuous education and training play a vital role in the future of third-party risk management. Educational professionals need to be equipped with the knowledge and skills to identify and address potential risks. By staying informed about the latest cybersecurity trends and best practices, they can proactively protect their institution’s data.
Partnerships with trusted vendors will be a game-changer in ensuring data protection. Collaborating with vendors that prioritize cybersecurity and have robust risk management measures in place can significantly reduce the likelihood of breaches or data compromises. These partnerships will help create a secure environment for both educators and students.
Additionally, implementing advanced risk management strategies will be essential. Education institutions should establish comprehensive risk management programs that include ongoing vendor assessments, regular internal audits, and continuous monitoring. This proactive approach will enable them to identify and address potential risks before they escalate.
FAQ
What is third-party risk management?
Third-party risk management refers to the process of identifying, assessing, and mitigating potential risks that arise from external parties or systems. In the context of education, it involves protecting student data and ensuring compliance with educational standards.
What are the categories of third-party risks in K–12 schools?
There are two categories of third-party risks in K–12 schools: known vendors with signed agreements and unknown vendors with access to school systems. Understanding how these vendors use data and the extent of their access is essential.
Why are K–12 schools vulnerable to third-party risks?
K–12 schools are vulnerable to third-party risks due to factors like a lack of cybersecurity expertise within smaller IT departments, the use of unauthorized applications through shadow IT practices, and the failure to update software regularly.
How can schools protect themselves from third-party risks?
Schools can protect themselves from third-party risks by implementing security controls in cloud-based environments, conducting audits of new applications, vetting vendor agreements, and considering outsourcing security processes to specialized partners.
What can K-12 districts do to mitigate third-party risks?
K-12 districts can establish a robust third-party risk management program by creating a formal policy for evaluating vendors, implementing a vendor assessment process, maintaining a list of approved vendors, conducting ongoing monitoring, and performing regular internal audits.
How does third-party risk management apply to higher education?
In higher education, third-party risk management is crucial for maintaining data security and student safety. It involves setting up key performance indicators, vetting vendors, assessing data privacy practices, and establishing comprehensive risk management strategies.
Why is vendor risk management important in higher education?
Vendor risk management is important in higher education because it helps ensure data security, compliance with regulations, and the integrity of the institution. It involves assessing the scope of vendor relationships, evaluating data privacy practices, and establishing risk management strategies.
How can higher education institutions mitigate third-party risks?
Higher education institutions can mitigate third-party risks by implementing comprehensive risk management strategies, using integrated risk management solutions, establishing clear policies, practicing good cyber hygiene, and conducting data audits.
What should higher education institutions do after a third-party data breach?
After a third-party data breach, higher education institutions should focus on mitigating the impact and quickly addressing the breach. This involves investigating the incident, understanding the root cause, evaluating insurance claims, and assessing the future of the vendor relationship.
How does automation contribute to third-party risk management?
Automation plays a significant role in effective third-party risk management. Utilizing risk management solutions that automate monitoring and compliance-check processes helps identify and address potential risks more efficiently, maintaining visibility over third-party applications, identifying unauthorized access, and ensuring network security.
What are the best practices for evaluating third-party vendors?
The best practices for evaluating third-party vendors involve establishing clear assessment criteria focused on data security, compliance, and privacy. This includes assessing software security, evaluating the learning curve associated with implementation, considering cost factors, and ensuring alignment with data privacy laws.
What does the future hold for third-party risk management in education?
The landscape of third-party risk management in education is ever-evolving. Staying updated on emerging threats, regulatory frameworks, and best practices, continuous education and training, partnerships with trusted vendors, and advanced risk management strategies will be key to ensuring data protection and mitigating risk in the future.