Data Recency Requirements

In the Global Risk Exchange, customers stipulate data recency requirements for the requests submitted. The article below will give an overview data recency and how to view the data recency on your request. Here is a video walkthrough of this process: Viewing Data Recency Requirements

Table of contents

• The benefit of keeping your Assessment up-to-date
• Viewing Recency Requirements Steps
• Possible Data Recency Requirements
• Updating the Questionnaire
• Updating Validation
• Data Recency Scenarios

The benefit of keeping your Assessment up-to-date

The Global Risk Exchange allows the flexibility to update and re-confirm the answers to the questionnaire whenever you like ensuring your data stays current and relevant. Keeping your assessment up-to-date allows your organization to be ready to share your assessment data as soon as a customer request comes through, helping reduce assessment request volume. This helps minimize delays and enables your team to focus resources on higher-priority work.

Viewing Recency Requirements Steps

1. Log in at https://portal.cybergrx.com/login

2. Go to your Customer Portfolio by clicking the icon in the left hand panel which will bring you to your Request/Shares tab of the Customer Portfolio

3. Navigate to the request that you are seeking further information about. Either utilize the quick filter function right above of the table or type the company name into the search bar.

4. Click the drawer icon to view additional details of the request as well as progress.

5.  View the data recency requirements stipulated by your customer

Possible Data Recency Requirements

• Up to 12 Months
• Up to 24 Months
• Up to 36 Months

• No Policy Requirements

Updating the Questionnaire

You can update the answers to the questionnaire whenever you like the questionnaire dashboard . Click update to start working on your updates. You must re-submit the questionnaire to see any answer changes reflected in your assessment results and scoring. If you enter the questionnaire by any means found on the Questionnaire Dashboard, it will automatically re-open it. 

 

Updating Validation

Validation data is acceptable by all customers in terms of recency for at a minimum 12 months post-completion date. As a result, if an additional customer requests validation and it is less than 12 months since you had last completed validation, you will not be required to undergo validation. 

To best assure that validation data being delivered is within 12 months recency, we begin future validation cycles at 10 months post the prior completion date. This is based on data showing that company's typically take 60 days on average to complete the validation lifecycle. This ensures that by the time the validation process is completed and updated results are available to the customer, it is within a 12 month recency window. 

Data Recency Scenarios

Data recency only applies to assessment and validation requests (it does NOT apply to sharing data or requesting document data). Based on the customer's data recency requirement, the business logic determines whether a request can be fulfilled based on the data's recency.

Here are some examples of how data recency can affect the completion of a request:

Example 1 – Assessment request last attestation date is outside of data recency and does not become ‘Delivered’ on approval

1. Customer A submits an assessment request to Third Party B with a data recency requirement of ‘Up to 12 Months’ on January 1, 2025
2. Third Party B approves the request and previously attested to the questionnaire on December 1, 2023
3. The request cannot be completed by the previously attested questionnaire data because it was attested more than 12 months before the request was created.
4. The steps in the request details will show the ‘Complete Questionnaire’ and ‘Submit Questionnaire’ steps as pending until Third Party B resubmits (re-attests) the questionnaire.
5. The status of the request will remain ‘Approved’ until Third Party B resubmits the questionnaire (re-attests). Upon Third Party B resubmitting the questionnaire (re-attesting) the status of the request will become ‘Delivered’

Example 2 – Assessment request last attestation date is within data recency and becomes ‘Delivered’ on approval

1. Company A submits an assessment request to Third Party B with a data recency requirement of ‘Up to 24 Months’ on January 1, 2025
2. Third Party B approves the request and previously attested to the questionnaire on December 1, 2023
3. Third Party B automatically fulfills the request with the previously attested questionnaire data because it was attested less than 24 months before the request was created.
4. The steps in the request details will show the ‘Complete Questionnaire’ and ‘Submit Questionnaire’ steps as complete
5. The status of the request automatically becomes ‘Delivered’ on approval

Example 3 - Third party previously completed validation on October 1, 2024. Customer requests an assessment and validation on September 1, 2025, with 'Up to 12 Months' data receny requirement. Third party must complete validation again in order to fulfill. 

1. Company A submits an assessment + validation request to Third Party B with a data receny requirement of 'Up to 12 Months' on September 1, 2025
2. Third Party B must undergo a new validation cycle since their prior validation completion date is more than 10 months from current date in order to ensure 12 month freshness at time of delivery. (Prior validation completed October 1, 2024 ; Request placed 11 months after that date). 
3. Third Party B completes assessment and validation process. 
4. Third Party B approves customer A request for assessment data, approves request for validation data. Status of requests become marked as 'Delivered'. 
5. The steps in the request details for the assessment request and the validation request will be shown as complete.