Vendor Risk Management

Vendor threats are constantly evolving. The most effective way to protect your organisation against cyber attacks is to adopt a risk-based approach to cyber security, where you regularly review your risks and whether your current measures are appropriate. A risk-based approach means the cyber security measures you implement are based on your organisation’s unique risk profile, so you will not waste time, effort or expense addressing unlikely or irrelevant threats. IT Governance can help you develop a cyber threat management strategy, enabling you to take a systematic approach to managing your security challenges.

What is vendor risk management?

Vewndor risk management is the process of identifying, analysing, evaluating and addressing your organisation’s cyber security threats. The first part of any cyber risk management programme is a cyber risk assessment. This will give you a snapshot of the threats that might compromise your organisation’s cyber security and how severe they are. Based on your organisation’s risk appetite, your cyber risk management programme then determines how to prioritise and respond to those risks.