About Us | Contact Us
View Cart

New Metrics for a New Round of SOC Reviews

By Matt Jolley | Monday, October 1, 2018 - Leave a Comment

Just in time for the next round of SOC reviews, we’ve reviewed and updated our metrics…


Well it’s that time of year again: the days are growing shorter, the leaves are changing color and your compliance officer is gathering up SOC reports for this year’s round of reviews!

Here at infotex we’ve long maintained a spreadsheet containing the key information from SOC reviews–number of expected controls, missing controls, number of exceptions and so on–but as the years have gone by our review process has been refined and we discovered that our most recent scores were diverging slightly from reports completed many years ago.

As the resident “SOC Guru,” the task of creating a new table of metrics fell upon me, and after several hours of collecting and sorting the data from the last three rounds of reviews I’m proud to offer a look at the metrics we’ll be using when comparing reviews starting this year.

On average, our “Overall Risk” metric (a combination of the risk level we’ve assigned to missing controls and noted exceptions) for reviews conducted since 2016 is 131.90. That number doesn’t mean much by itself, but in the context of the report we prepare for clients the overall risk metric allows you to compare your vendors with others we have reviewed recently. How does your core processor’s risk compare to other such vendors we’ve reviewed? The overall risk score will give you a general idea.

To see what we mean, we’ve made available a version of our metrics spreadsheet (with vendor names replaced with a generic description) available for free, and it is located here.

For those who don’t feel like browsing through a spreadsheet at the moment, here’s a few takeaways from our latest metrics review: the three organizations with the lowest risk were a datacenter for cloud computing and two other datacenters, coming in with overall risk metric numbers around 80. On the other end of the spectrum, our highest overall risk was found in a datacenter, a credit/debit card processor and a mortgage processor–their overall risk was around 180.

We think the data shows that the type of vendor has little to do with the overall risk: there isn’t one type of organization you can assume to be “safe” or “unsafe.” We can also say that there also isn’t a clear correlation between the size and clout an organization may have and the risk they may present to your company–some big names in the industry posted great scores, and others were considerably worse. You can use our metrics to compare your relative risk once you receive a score, but you can’t use them as a guide for a vendor that has yet to be reviewed.


Article by Matt Jolley, Staff Auditor at infotex.


same_strip_012513


 

Latest News
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Interested in one of ours […]
    President Biden recently signed a bill tasking the agency with evaluating the unique risks that schools face… An article review. Taking note of the unique challenges educational institutions face in securing their networks, President Biden has signed a bill into law directing the Cybersecurity and Infrastructure Security Agency (CISA) to look into ways that they can […]
    Thanks for being interested in our Technology Planning Webinars! This year‘s annual update to our annual Technology Planning webinar will include a panel discussion, a review of the previous years’ movies that are already available, and a discussion about alternative tactics that have arisen from recent conferences as well as the impact of the AIO […]
    Welcome Cybersecurity Conference Attendees! Thanks for joining us for the Cybersecurity Conference today! We have created this page for you to have access to the deliverables from Dan’s talk.  
    What you need to know for compliance coast-to-coast. Back in 2020 we posted an article containing links to data breach laws from each state, and it has proven to be one of our more popular posts.  Because laws surrounding the use (and abuse) of technology are always evolving, we thought it was worth taking another […]
    Why It Rhymes With SEEM (And its Not the I Before E Rule) Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . It’s the Gestalt. The idea that the whole is greater than the sum of it’s parts. That’s not something that is often brought […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Interested in one of ours […]
    Questions about China’s new disclosure laws only highlight the uncertainty about disclosure in general… An article review. China recently made waves in the security world by announcing a new set of data security laws, one of which has added new fuel to a long running debate: how and when should security vulnerabilities be disclosed…and to […]
    Four Conditions … …For Why a Network Can be Anything But a Network! Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . I have to admit that infotex is being called into engineering meetings with larger organizations these days that are NOT community based banks.  We […]