Security Questionnaires: Time Consuming, Challenging, and Necessary

 Organizations and their customers  have a special, interdependent  trust-based relationship . Leaders already understand that they must  consistently ensure their data environment is secure, for myriad reasons. One core reason: A secure data environment is foundational in supporting and maintaining trust. 

One common method for assessing an organization’s security posture is through security questionnaires that ask probing questions about technology, staffing, and practices. For example, an organization may ask a vendor or service provider for details on how their data is isolated from other customers or the outside world, or which technologies are in use to encrypt data while it’s stored or moving around. Or a customer may ask you to confirm that you’re following industry-standard best practices.

Whether you're in the role of vendor, service provider, or customer,  these questionnaires, when completed accurately and comprehensively, can help identify strengths and weaknesses and allow all parties involved to discern whether customer data is as safe as it can be.

The downside, of course, is that these questionnaires  often require your immediate time and effort. In this blog, we'll discuss the steps for navigating the intricate process of completing security questionnaires quickly, efficiently, and effectively.

Step #1: Prepare

Before completing any questionnaire, ensure that your organization has a clear understanding of its existing security posture. Conduct periodic, thorough internal security risk assessments to regularly identify strengths and weaknesses - and correct what’s necessary - as a matter of standard practice. Having these internal assessments ready will help to form your responses to customer questions.  

When preparing to complete an internal security risk assessment start with this: 

• Collaboration and Understanding Among Departments and Stakeholders. Everyone should understand why internal assessments are necessary and require participation.

• Establish and Document Organizational Controls. Controls are simply the “rules of engagement” when handling any asset - including your and your customers’ data.

• Align with a Recognized Framework. Fortunately, there are several excellent established “frameworks” that provide systematic approaches and security checklists.  

• Implement and Test Control Areas. Think everything is in order? Great! Establish a process to double-check and verify that your controls are working.  

• Create a Centralized Body of Knowledge (or “reusable answers”) for Questionnaires. All the steps above can lead to a handy set of answers at-the-ready, that you can use to respond to questionnaires as they come in. 

• Consider Additional Options such as external SOC2 reviews or Risk Assessment Reporting. Having a trusted third party step in to help you assess with outside eyes can leave you with valuable information and documentation to share with your customers.

Step #2: Respond

Before diving into the questionnaire, take the time to understand its purpose, the nature of both entities’ relationship and the services provided. Understanding whether the questionnaire is assessing general cybersecurity practices, compliance with specific standards, or adherence to industry-specific regulations will help you tailor your responses effectively. 

Be sure to be consistent and clear when answering questions about:

• Your Organization’s Services and Products 

• Your Organization’s Delivery / Implementation of Services and Products

Further, keep the following back-of-mind when framing your answers:

• Contractual Requirements 

• Provide Clear and Concise Answers

• Use Standardized and Reusable Language for Answers

• Be Honest About Your Limitations (& Track Areas for Improvement)

• Share Responses Internally with Stakeholders, including Leaders, Information Security staff, and Legal Counsel

Step #3: Fix

The security in place today will not address the new risks tomorrow, and the maturity of security processes evolve over time.  This leads to opportunities for improvement.  Also, partners, customers and third parties may require additional security measures to be implemented to continue the relationship or stay compliant with changing regulatory requirements.

Some tasks to consider:

• Design Security Improvements to Mitigate Existing and New Risks

• Set Realistic Goals

• Assign Ownership for Areas of Improvement

• Communicate Plans to Stakeholders and Partners

• Implement and Test Controls Regularly

• Ensure Remediation Schedules are Met

Step #4: Reuse

Security landscapes evolve, and so should your security questionnaire responses. Regularly revisit and update your responses to reflect any changes in your technology, security posture, policies, or practices. This proactive approach demonstrates a commitment to continuous improvement.

Be sure to:

• Save Your Responses to any Questionnaire

• Add Reusable Responses to a Well Organized Centralized Body of Knowledge

• Make Changes Where and When Necessary

• Group Responses by Category

• Align Categories & Responses with Organizational Controls and Frameworks

• Always Include  Other Team Members to Ensure a Mix of Perspectives

For More Information

Completing security questionnaires is a necessary part of demonstrating your organization's commitment to cybersecurity. By following these steps, you can not only streamline the process but also improve your ability to answer future questionnaires more efficiently, saving time for focusing on the day to day. 

Cobalt Shields can assist you with:

• Answering security questionnaires your organization receives

• Developing security questionnaires to send to your vendors and service providers

• Help you interpret the answers you receive when asking a potential business partner about their security posture.