Close the Back Door! 5 Ways to Reduce Third-Party Risk

 

The connections and dependencies between organizations and their employees, partners, suppliers and customers, creates significant opportunities for bad actors. Whether a breach, ransomware or other risk, bad actors are increasingly using partner ecosystems to gain access to your information and disrupt operations. According to a recent study by KPMG, third-party risk management is a strategic priority for 85% of businesses.

Traditional approaches for ensuring your third-parties fulfill their obligations are woefully inadequate — and your compliance and even company reputation can hang in the balance. You need the ability to quickly assess potential third-parties and focus on key areas of concern BEFORE onboarding. Continuously monitoring for changes within current vendor relationships will keep you ahead of threats.

In this expert session, Meghan Maneval — Director of Technical Product Management and a member of Reciprocity’s GRC Expert Team — will discuss:

• Why third-party relationships introduce high risk to your organization               
• 5 ways to reduce third-party risk
• How cybersecurity risk ratings can complement your risk mitigation efforts