GRC Assessment Platform for HECVAT

HECVAT is primarily implemented by higher education institutions to assess the security and privacy practices of their third-party vendors, particularly those who handle sensitive student, faculty, or institutional data. It is used by university and college IT and procurement teams to ensure that vendors comply with the institution’s data protection standards and to mitigate potential cybersecurity risks. Additionally, vendors serving the higher education sector are encouraged to complete HECVAT assessments to demonstrate their commitment to security and to streamline the vendor evaluation process for potential higher education clients.

A GRC Assessment Platform like Isora supports higher education institutions in building a comprehensive Third-Party Security Risk Management (TPSRM) program using the HECVAT framework. By utilizing Isora, institutions can maintain a detailed inventory of their third-party vendors and associated deployments, along with relevant evidence, which is crucial for effective risk management. The platform allows for the customization of HECVAT questionnaires to align with specific institutional needs, enabling targeted security risk assessments of third-party vendors. This systematic approach not only streamlines the assessment process but also enhances the institution’s ability to manage and mitigate risks associated with their third-party relationships, thereby strengthening their overall security posture.