Cybersecurity Agility
and employee benefit plan committees to survive in the fast-paced data security world.
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Why tracking technology makes fiduciary committees more secure
By harnessing new network intelligence capability, employee benefit plan committees can establish a robust cybersecurity defense against the risks posed by third and fourth-party vendors.
A dramatic shift has emerged in monitoring benefit plan service providers. It uses quantitative cybersecurity scoring and interrogates vendors’ computer systems 24/7 without their intervention.
Employers that grasp the limitations of their employee benefit plan vendors’ data security audits will be better prepared to defend their plans’ data and assets and avoid unpleasant surprises.
AI-enabled vendor management enables employee benefit plan executives to enjoy increased transparency and reduced risks.
While AI offers exciting opportunities for optimizing benefit plan services, it also introduces inherent risks that cannot be ignored.
It’s important to ensure that all the documentation provided is accurate, up-to-date, and reflects the organization’s actual cybersecurity posture.
Implementing a comprehensive risk management framework enables fiduciaries to proactively identify vulnerabilities, establish controls, and respond effectively to potential threats.
FEATURED VIDEO
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Adapting to New Standards
Employee benefit plans must adapt to cybersecurity best practices, and that starts with a risk assessment.
The landscape of cyber threats is dynamic and multifaceted, with various actors and motivations at play.
The landscape of cyber threats is dynamic and multifaceted, with various actors and motivations at play.
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risk management capability?
To an increasing degree, vendors of critical infrastructure components like third-party administration, recordkeeping, health plans, investment management, and payroll tout the AI functionality of their offerings. Are those claims authentic and, if so, how do their AI-enabled systems impact a plan’s security?
The lines between human resources functions and technology functions are blurring. Therefore, leading human resources executives must look for ways to engage more deeply with their technology peers and embrace that overlooked resource.
