Your glossary for risk and compliance
Helpful definitions of all of the terms you need to know to better manage risk and compliance.
TermsAFSL Authorised Representative AICPA Annex A Controls ASIC Attestation of Compliance (AOC) Business Continuity Management Compliance Automation Software Compliance Risk Management Cybersecurity Maturity Model Certification (CMMC) FedRAMP Governance Risk & Compliance (GRC) GPDR HIPAA HITRUST Incident Management Information Security Management System (ISMS) ISMS Governing Body ISO 27001 Notifiable Data Breach OAIC Policy Management SOC 1 SOC 2 SOC 3 SOC Reports SOC Trust Services Criteria (TSC) SSAE 16 SSAE 18 Third Party Risk Management Vendor Assessment Vendor Management Policy Vendor Review Vulnerability Vulnerability Management
What is Vulnerability Management?
Vulnerability management is the process of identifying, evaluating, treating, and reporting on security vulnerabilities in systems and the software that runs on them. This, implemented alongside with other security tactics, is vital for organizations to prioritize possible threats and minimizing their "attack surface."
Security vulnerabilities, in turn, refer to technological weaknesses that allow attackers to compromise a product and the information it holds. This process needs to be performed continuously in order to keep up with new systems being added to networks, changes that are made to systems, and the discovery of new vulnerabilities over time.
Maintaining a Vulnerability Management Policy is an integral part of the SOC 2 framework.