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Third Party Risk Management
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What is Third Party Risk Management & Why is it Important?
What is Third Party Risk Management & Why is it Important?
Third-party entities that your organization work with can pose risks in a variety of ways. From the poor implementation of required security protocols to a lack of in-depth personnel vetting, there are many ways that security vulnerabilities with third-party vendors can translate to a security incident for your organization.
The risk that third-party vendors pose organizations is often not well understood. This leads to organizations exposing themselves to unnecessary risk that is otherwise avoidable. Understanding the scope of security risk and cyber risk that you face from third-party providers can help you make calculated organizational and operational decisions that are fully informed.
The creation of a third party risk management policy should be a necessary component of your cybersecurity strategy and should be fully backed by senior management.
When it comes to third party risk management, you need an experienced partner to help you manage critical information systems and data that your partners and vendors are involved with. With an experienced third party risk management partner, you’ll effectively create an always-on, 24/7 buffer between your at risk third party data and would-be hackers and cyber criminals.
Finding the right cybersecurity partner is critical to effective implementation of third party risk management services, and enables organizations to ensure a robust cyber defense and proactive response in the event of a breach. Your third-party data will be protected by RSI Security’s team of experts, analysts, and technology tools to reduce the risk of attacks and ensure regulatory compliance at all times.
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FAQs
Frequently Asked Questions
Third party risk management means ensuring that all data handled by third-party vendors and partners (cloud service providers and payment processors, for instance) is secured and protected in such a way that minimizes the risk of a cyber breach.
Download our Third Party Risk Management Services Data Sheet Here
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