Beyond IGA: How Pathlock Automates Risk Mitigation with Continuous Controls Monitoring

There is no escaping risk in today’s multi-application landscape. The goal for most organizations is to mitigate those risks and bring them down to an acceptable level. While traditional Identity Governance and Administration (IGA) solutions help streamline access management, they fall short when it comes to actively monitoring and mitigating risks. Pathlock Continuous Controls Monitoring (CCM) addresses this gap by automating risk management, mitigating risks in real-time, and providing robust audit support through its Risk Quantification capabilities and Control Management module.

The Limitations of Traditional IGA in Risk Management

Traditional IGA solutions primarily focus on access management, ensuring users have the appropriate level of access to perform their roles. However, when it comes to risk management, these tools have significant limitations. Some of the key challenges include:

1. No Continuous Risk Monitoring: Traditional IGA lacks the ability to identify and continuously monitor controls and risks. Risk monitoring is typically manual and often delayed, meaning risks can go unnoticed for weeks or months.
2. Manual Control Implementation: Implementing and monitoring compensating controls (controls used to mitigate accepted risks) is a manual and time-consuming process. Businesses must create reports, review changes, and gather evidence for audit purposes — all without automated assistance.
3. Limited Risk Quantification: IGA systems do not have the ability to quantify risks in real-time. Audits rely on manual reviews of logs, which are not always reflective of the actual risks being faced by the organization at a given moment.

Pathlock CCM: Automating Risk Monitoring and Mitigation

Pathlock CCM addresses these gaps by providing continuous risk monitoring and quantification, automating key processes, and ensuring that controls are actively monitored and audited. Let’s dive into how Pathlock CCM redefines risk management.

1. Risk Quantification for Real-Time Insights

Risk quantification is one of the standout features of Pathlock CCM, allowing businesses to measure and prioritize risks based on their potential impact. Unlike traditional IGA systems, which require manual reviews of static logs, Pathlock CCM actively monitors risk events and quantifies them in real-time. This means control owners are only notified when a real risk occurs, significantly reducing unnecessary manual reviews.

For instance, instead of the Finance Director having to manually review monthly reports to check for unauthorized changes to vendor information or inappropriate payments, Pathlock CCM automates this process. It monitors vendor changes and payments and only sends a notification when both actions are performed by the same user for the same vendor — indicating the execution of a SoD risk. This automation eliminates the need for constant manual reviews, saving time and reducing the workload for control owners.

2. Operational Effectiveness of Controls

An essential aspect of risk management is ensuring that controls are operationally effective — that they are being executed as defined. Pathlock CCM enables businesses to not only implement controls but also track their execution. For each control, Pathlock CCM can document the frequency, ownership, and expected outcomes. It ensures that controls are being performed in a timely and compliant manner, with evidence automatically collected and stored for audit purposes.

For example, if a control dictates that vendor payments must be reviewed on a monthly basis by a specific department, Pathlock CCM will track whether this review occurred, support storing of gathered evidence, and provide an easily accessible audit trail format for audit review purposes.

3. Automated Reporting and Audit Support

Pathlock CCM drastically simplifies audit processes by automating reporting and audit evidence collection. When audit teams need to review controls, they can access all the relevant documentation within Pathlock CCM, including evidence of control execution, risk reviews, and mitigation actions. This reduces the burden on both control owners and auditors, making the entire audit process more efficient and transparent.

Moreover, Pathlock CCM can automatically generate reports based on control performance and risk monitoring, allowing businesses to provide auditors with clear, concise evidence of their risk management activities.

The Benefits of Pathlock CCM

By automating controls management and risk quantification, Pathlock CCM delivers several key benefits:

• Reduced Manual Effort: Pathlock CCM automates the monitoring and review process, significantly reducing the time and effort required to manage compensating controls. Businesses can focus their resources on actual risks rather than routine, manual tasks.
• Real-Time Risk Visibility: With continuous monitoring and risk quantification, control owners are only alerted when real risks occur, allowing for faster response times and more efficient risk mitigation.
• Improved Audit Compliance: Pathlock CCM provides robust audit support, automatically gathering evidence of control performance and risk reviews. This ensures that businesses remain compliant with audit and regulatory requirements without the need for manual documentation.
• Enhanced Risk Mitigation: By actively monitoring and mitigating risks in real-time, Pathlock CCM ensures that risks are addressed before they can escalate, providing a higher level of security for the organization.

Pathlock CCM: Stay Ahead of the Game

While traditional IGA solutions are effective for access management, they lack the necessary features to continuously monitor and mitigate risks. Pathlock Continuous Controls Monitoring (CCM) fills this gap by automating risk monitoring, quantifying risks in real-time, and ensuring that compensating controls are both operationally effective and audit-compliant.

With Pathlock CCM, businesses can confidently manage their risks, reduce manual effort, and maintain compliance with ease, ensuring that no risk goes unmanaged. By integrating automated controls management and risk quantification, Pathlock CCM enables organizations to stay ahead of potential threats and ensure a secure and compliant operational environment.

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