Third Party Risk Management

Third party risk management

Third party risk management

Effectively manage third party risk and relationships in a controlled and secure manner

Effectively manage third party risk and relationships in a controlled and secure manner

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Assessing risk appetite

The initial stage of our assessments is a workshop with the business and IT stakeholders to understand your risk appetite. This covers the following areas:

  • Understanding the critical business processes and information
  • Conducting information gathering exercises
  • Defining risk criteria and acceptance criteria

Once risk appetite and context is established, our consultants agree and document the following information which feeds into a defined risk register:

Critical assets

  • Primary and supporting
  • Asset owners

Context

  • Risk matrix
  • Likelihood criteria
  • Impact criteria
  • Acceptance criteria
  • Risk treatment criteria
  • Risk assessment
  • Threats
  • Vulnerabilities
  • Inherent risk
  • Residual risk
  • Risk mitigation
  • Risk owners
  • Time frame 

Services