Source: www.upguard.com
How to Communicate Third-Party Risk to the Board in 2023 | UpGuard
The following list offers three effective strategies for keeping your board informed of the business’s https://www.upguard.com/blog/what-is-third-party-risk exposure and the efficacy of its https://www.upguard.com/blog/third-party-risk-management program. A https://www.upguard.com/blog/third-party-risk-management oversight committee creates a communication funnel between your risk management teams and the board.
Without a third-party risk committee, much of the responsibilities of communicating third-party risk management efforts will fall on the https://www.upguard.com/blog/what-is-a-ciso.
With board members becoming more aware of the importance of securing third-party relationships, you might be asked to demonstrate the efficacy of your Vendor Risk Management efforts by proving vendor security ratings are also improving over time.
With a thorough understanding of your third-party risk landscape, the board will want to learn about the details of your Vendor Risk Management efforts.
Without a third-party risk committee, much of the responsibilities of communicating third-party risk management efforts will fall on the https://www.upguard.com/blog/what-is-a-ciso.
With board members becoming more aware of the importance of securing third-party relationships, you might be asked to demonstrate the efficacy of your Vendor Risk Management efforts by proving vendor security ratings are also improving over time.
With a thorough understanding of your third-party risk landscape, the board will want to learn about the details of your Vendor Risk Management efforts.
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