Third-party Vendor Risk Assessment

Many companies are reliant on third-party service providers to provide mission critical services to their customers. A company’s use of third parties does not diminish the responsibility of its board of directors and senior management to ensure that the activity is performed in a safe and sound manner and in compliance with applicable laws. However, it is critical that company’s maintain a robust and mature third party risk management program that encompasses all aspects of risk, and the many stages of third-party engagement. We highly recommend these operational and strategic considerations for your existing and new vendors. Some of our key areas of focus are:

 Security Roles & Access Controls

 Data Collection & Storage

Security Policies & Recommendations

Identity & Access Management

Ongoing Security Monitoring

Data Breach Notification

Business Continuity Plans