Tag: third party risk management

Third party risk management requires a commitment to an organization’s entire operational risk profile.  It’s a challenge, since third party risks often occur in areas that have no “owner,” and are therefore easily overlooked.  Consequences can be far-reaching for overlooking risks associated with third parties, including lost customers due to a third party’s poor-quality service, data breaches resulting from their poor security practices, or supply chain issues stemming from poor disaster recovery procedures. The significant jump in the use of third parties in business has compounded the risks associated with them and escalated potential consequences.

The following articles about third party risk management address various aspects, including third party due diligence and third party risk assessments.