Case Studies

Challenge

A community bank with $800M in assets had no formal GRC program in place. Regulatory examiners had flagged gaps in risk management documentation, policy governance, and control monitoring during a recent FDIC examination. The institution needed a structured, sustainable program before its next examination cycle.

Approach

Veriance conducted a comprehensive risk assessment aligned to FFIEC guidance and NIST RMF. We developed a risk register, governance charter, and policy framework from scratch — then implemented a continuous monitoring process to track control effectiveness on an ongoing basis.

Outcome

The bank entered its next regulatory examination with a fully documented GRC program. Examiners noted significant improvement in risk management maturity. No repeat findings were issued in the areas previously cited.

Challenge

A regional healthcare provider with multiple clinic locations had not conducted a formal HIPAA Security Risk Assessment in over three years. With OCR enforcement activity increasing and a planned EHR migration on the horizon, leadership needed a clear picture of their current security posture and compliance gaps.

Approach

Veriance performed a comprehensive HIPAA Security Risk Assessment covering all administrative, physical, and technical safeguards across the organization's systems and locations. We interviewed key personnel, reviewed existing policies and procedures, and evaluated technical controls protecting electronic Protected Health Information (ePHI).

Outcome

The organization received a detailed risk assessment report with prioritized findings and a remediation roadmap. Critical gaps were addressed prior to the EHR migration, and the organization established a repeatable annual risk assessment process going forward.

Challenge

A mid-size credit union had grown rapidly through a series of mergers and found its cybersecurity controls fragmented and inconsistent across legacy environments. NCUA examiners had raised concerns about vulnerability management, incident response readiness, and third-party risk oversight.

Approach

Veriance performed a cybersecurity risk assessment aligned to the NIST Cybersecurity Framework and NCUA guidance. We identified critical gaps in vulnerability management, patch cadence, and vendor oversight. A prioritized remediation plan was developed, and Veriance supported implementation of an incident response plan and tabletop exercise.

Outcome

The credit union resolved all NCUA-cited findings within two examination cycles. Vulnerability management processes were formalized, a third-party risk management program was established, and staff completed incident response training — significantly improving the institution's overall security posture.

Challenge

A growing FinTech SaaS company was facing increasing pressure from enterprise customers and financial institution clients to demonstrate SOC 2 compliance. With no formal security program in place, the organization needed to understand its readiness gaps and build a path to attestation.

Approach

Veriance conducted a SOC 2 readiness assessment against the Trust Services Criteria, evaluating the organization's existing controls across security, availability, and confidentiality. We identified gaps, developed a remediation roadmap, and assisted with policy development, control implementation, and evidence collection in preparation for the formal audit.

Outcome

The company achieved SOC 2 Type I attestation within six months of engaging Veriance. Enterprise sales cycles shortened as prospects received audit reports demonstrating security program maturity. The organization is now on track for SOC 2 Type II.

Challenge

A critical infrastructure operator relied on dozens of third-party vendors with access to sensitive operational systems and data. The organization had no formal vendor risk management process, creating significant exposure to supply chain and cybersecurity risk.

Approach

Veriance designed and implemented a Third-Party Risk Management (TPRM) program from the ground up — including vendor tiering methodology, risk questionnaires, due diligence workflows, and ongoing monitoring procedures. The program was aligned to NIST 800-53 and industry best practices for critical infrastructure environments.

Outcome

The organization gained full visibility into its vendor risk landscape for the first time. High-risk vendors were identified and remediation requirements were communicated. The TPRM program was embedded into the procurement process, ensuring all new vendors are assessed before onboarding.