Third-Party Vendor Risk Review Services
Third-party vendors can introduce significant risks to your organization—often without you knowing. At Anchor Cyber Security, we provide a practical, right-sized approach to evaluating and managing vendor risk, especially for small and mid-sized businesses that don’t use complex GRC platforms.
Vendor relationships are essential, but they often represent one of the largest unmonitored risk surfaces in your business. Anchor Cyber Security’s vendor risk review services help you assess, score, and manage your vendors’ security posture—without needing a complex GRC platform. From SIG questionnaires to GDPR and HIPAA reviews, we make third-party security oversight achievable and audit-ready.
On This Page
What We Offer
Vendor Risk Assessments
- Assess vendor practices across data access, retention, security controls, incident response, and business continuity.
- Assign risk ratings (Low, Medium, High) based on potential impact and likelihood.
Security Questionnaire Support
- Build or validate vendor questionnaires using standards like SIG Lite, CSA CAIQ, or custom criteria.
- Provide a sample set of key questions covering topics such as authentication, data encryption, and third-party sub-processing.
- Analyze responses for missing or weak controls and document actionable concerns.
Data & Privacy Impact Review
- Trace how your data is collected, processed, stored, and transferred across vendor systems.
- Review key terms in Data Processing Agreements (DPAs), including breach notification timelines, subcontractor clauses, and jurisdictional implications.
- Identify gaps relative to major compliance obligations such as GDPR (Article 28), HIPAA (Business Associate Agreements), CCPA, SOC 2, and ISO 27001.
Risk Scoring & Reporting
- Deliver concise vendor risk scorecards that include:
- Risk category breakdown (technical, legal, operational)
- High-priority findings
- Recommended remediation steps
- Provide executive-friendly summaries suitable for board reporting or audit documentation.
Lightweight Tracking Tools
- Implement vendor tracking systems using tools your team already uses—like Google Sheets, Airtable, or Notion.
- Include columns for review dates, status, risk rating, and next review cycle.
Benefits
- Reduce Supply Chain Risk by identifying weak points in third-party security practices.
- Meet Audit & Certification Requirements for frameworks like SOC 2, HIPAA, ISO 27001, and NIST.
- Demonstrate Due Diligence through documented review processes and scored evaluations.
- Operate Lean with workflows tailored to small teams and non-technical stakeholders.
Pricing
Pricing reflects typical engagement scopes and may vary based on complexity or urgency.
- Single Vendor Review: Starting at $2,000
- Vendor Portfolio Review (up to 10 vendors): Starting at $7,500
- Ongoing Vendor Risk Management: Custom monthly packages available
Optional Add-Ons:
- Vendor onboarding playbooks
- Support for integrating vendor data into your GRC dashboards
Why It Matters
Regulators, auditors, and customers all expect that you know what your vendors are doing with your data. Whether it’s a cloud SaaS provider, marketing firm, or data processor, you are still accountable under most data protection regulations.
Examples of Regulatory Relevance:
- GDPR: Requires you to ensure data processors provide “sufficient guarantees” (Art. 28).
- HIPAA: Mandates Business Associate Agreements with security provisions.
- CCPA: Holds you accountable for vendors’ use of consumer data.
- SOC 2 / ISO 27001: Expect formal third-party review and risk tracking.
Related Services
- GRC Advisory Services
- Cybersecurity Strategy & Program Development
- IT & Cybersecurity Audit & Assessment
- Data Privacy Advisory Services
Schedule a Vendor Risk Review
Want to proactively reduce third-party risks and satisfy your auditors?
FAQ
What size companies is this for?
Our vendor risk review service is ideal for SMBs, startups, and mid-sized enterprises without large internal security teams.
What kinds of vendors do you assess?
We review cloud SaaS vendors, contractors, marketing platforms, IT service providers, and any third party that handles your sensitive data.
Can you support compliance frameworks?
Yes — we align assessments to HIPAA, GDPR, CCPA, SOC 2, ISO 27001, and others.
Do you offer recurring vendor assessments?
Yes. We offer annual or quarterly review cycles through a managed service model.