Vendor Risk Program Development

Vendor risk management is the process of ensuring that the use of service providers and IT suppliers does not create an unacceptable potential for business disruption or a negative impact on business performance.

Improving your organization's visibility into the risks introduced when working with a third-party is crucial to protecting your customers and your business. Risk tolerances, cybersecurity program maturity and capabilities vary from organization to organization and a vendor risk management program should be able to detect and communicate these gaps to key stakeholders.

ASEC will help develop a flexible and lightweight vendor risk management program that works for your organization. We’ll help provide tools and processes that help you inventory, evaluate and identify third-party risks, as well as make recommendations for how vendor risks should be addressed during crucial touch-points such as agreement negotiations, renewals, and even terminations.

Beyond recommendations, ASEC will provide internal reporting and dashboards that clearly communicate vendor risks, and install frequent ongoing assessments and monitoring practices that allow your team to identity and mitigate emerging risks.