483 words, 1.8 minutes read. By Gerard Blokdyk
Third Party Risk Management 1 big thing: Develop experience performing information security audits or risk assessments.
The big picture: Participate in and advise on privacy and data protection issues and regional strategic initiatives that involve aspects relating to privacy compliance and data protection requirements.
Why it matters: Support grc capabilities such as enterprise security risk management compliance and audit management policy management security awareness training Third Party Risk Management and metrics and reporting.
Go deeper: Oversee the Third Party risk management function, including working across the organization to complete the Third Party risk assessments and present these to the Third Party oversight committee for approval.
Yes, but: Make certain that your process evaluates data gathered from multiple sources, reconciles differences, and ensures consistent approaches, data interpretation, and results measurements are employed.
Between the lines: Collaborate with multiple central control functions as CISO, Vendor Risk Management, Third Party Risk Management teams on vendor onboarding and recurring due diligence related activities.
What to watch: Guarantee your personnel researches technology and processes in the industry to ensure that the enterprise risk management processes are founded on best practice.
What we’re hearing: “Oversee that your team leads discovery sessions and requirements gathering in concert with Business Analysts to understand client processes, legacy systems and data, configuration specifications, and customization requirements.“, Nancy G. – Director, Cybersecurity and Risk Management
What they’re saying: “Safeguard that your workforce is involved in the full software development life cycle, including a strong quality focus demonstrating success with design reviews, code reviews, and unit testing.“, Sara B. – Senior Third Party Risk Analyst
State of play: Make headway so that your design provides overall strategic management, defines the program scope and objectives, manages projects scope, schedule, budget, and risk.
Be smart: Follow all safe work practices, watch out for fellow workers, and ensure the purchasing area remains compliant regarding hazardous waste, non hazardous waste and universal waste.
The bottom line: Assure your company identifies and implements improvements to enhance the IT Risk Management program through optimization of processes, solutions, policies, procedures KPIs and other techniques.
What’s next: Safeguard that your personnel anticipates and implements changes to the testing plans as a result of changes in your organizations business environment including regulatory changes.
ICYMI: Partner in the establishment of a beneficial, holistic contract management process, clarifying roles and responsibilities, identifying, and mitigating risks, managing, and resolving vendor issues, and strengthening relations by leveraging vendor performance data across the organization.
A MESSAGE FROM THE ART OF SERVICE
Get started: store.theartofservice.com/Third-Party-Risk-Management-critical-capabilities/
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