Third Party Compliance Systems: Are They Worth It?
According to new research from The Risk Advisory Group, third party risk is the number one priority for compliance professionals ...
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.
Panorays Recognized as a Strong Performer in Cybersecurity Risk-Rating Solutions Report
New report says that Panorays "is best for S&R pros that want a dedicated tool to conduct all cyber-TPRM activity." ...
$5B Facebook Privacy Settlement with the FTC Imposes Stringent Third-Party Requirements
The FTC has handed Facebook the largest privacy fine in history. Russ Berland explores how privacy risks in the U.S. are ...
Using the New NYDFS Cybersecurity Regulation to “Lock the Data Vault” for Financial Institutions
The New York Department of Financial Services (NYDFS) requires all regulated entities to adopt the core requirements of a cybersecurity ...
Third-Party Due Diligence Requirements for Financial Institutions
Sylwia Wolos, Head of Proposition, Enhanced Due Diligence at Thomson Reuters speaks with Finextra TV, covering topics including the latest third-party ...
Risky Business in a GDPR World
Navigating Privacy and Compliance As the recent data breach by Facebook has made clear, meeting strict GDPR guidelines is difficult. ...
OFAC Enforcement: The Epsilon Case and Third-Party Risks
What the Decision on Epsilon's Sanctions Violations Means for Companies Michael Volkov discusses Epsilon's sanctions violations, the resulting "reason to ...
Rethinking Third-Party Risk Management (TPRM) in the GDPR Regime
Building an Effective TPRM Framework The GDPR imposes new rules on organizations to protect EU individuals’ personal data. Banks are ...
Why Companies Misunderstand Third-Party Cyber Risk
Rethinking How We Discuss Vulnerabilities in the Digital Supply Chain The fundamental principle that makes the internet so powerful is ...
Managing Third-Party Risk in EERM Programs
Q&A with Dan Kinsella, Deloitte Risk and Financial Advisory Partner Deloitte recently released the results of its third-annual Global Extended ...
Data is Power: Wield it Wisely
The Importance of Digital Vendor Management As the digital landscape grows and changes, businesses rely on an increasingly sprawling network ...
