Risk Management in Vanta

Risk management is a key part of compliance, and Vanta makes it simple to scope and assess your most important risk areas.

💡 Tip: Start small. Including too many risks can dilute your focus. We recommend beginning with 10–20 risks and expanding over time.

Begin in the Vanta Risk Library, where you can:

• Add predefined risks to your register with a click.
• Add custom “scenarios” individually or upload in bulk.

💡 Tip: Using Vanta’s predefined risks saves time because they’re already mapped to your Vanta control framework.

For SOC 2 coverage, we recommend including at least one risk in these areas:

• Asset management
• Access control / communications security
• Business continuity & disaster recovery
• Fraud
• Software development & acquisition
• Third-party risk

💡 Tip: Smaller, early-stage companies can define risks at a higher level for simplicity. Larger organizations may want more granular detail.

For each risk in your register:

• Rate inherent likelihood and impact.
• Define a treatment plan.
• Rate residual likelihood and impact after controls.
• Map mitigating controls and log any future actions.

💡 Tip: If residual risk is 6 or higher, log an action for improvement. Assign an owner for accountability and ongoing management.

Remember: The goal is continuous risk reduction. Most treatment plans will aim to mitigate risks. Acknowledging material residual risks does not compromise compliance.

Review your risk action tracker to confirm tasks are realistic and timeframes achievable.

• For Type 1 audits, your risk register and action plans demonstrate effective design.
• For Type 2 audits, auditors look for evidence of ongoing improvements and monitoring.

💡 Tip: Auditors want to see a system that identifies, assesses, treats, and monitors risks continuously. The ratings and actions are up to management to determine what’s appropriate.

Step 4: Sharing Your Risk Assessment with Auditors