Simplifying Management of Third-Party Risk
As organizations increasingly rely on vendors and partners to conduct business, third-party risk is a greater concern today than ever before. Regulators, investors and other stakeholders expect organizations to perform robust third-party risk assessment, but with so many aspects of the business reliant on third-party relationships, the cost can quickly skyrocket and the burden on IT teams can become overwhelming. To ensure that the cost of managing third-party risk doesn't outweigh the benefits of third-party relationships, organizations need a way to streamline and simplify third-party risk management.
Optiv can help. Our third-party risk solution can help organizations to effectively plan, develop and manage a third-party risk management (TPRM) program, with services to develop programs, discover and categorize partnerships, and perform risk assessments.
Managing Third-Party Risk with Optiv
Optiv is the largest comprehensive pure-play cyber security solutions provider in North America. We partner with clients in a wide variety of industries to plan, build and run successful cyber security programs.
Our supplier risk management solutions help to protect organizations by comprehensively identifying, assessing and mitigating risks posed by vendor relationships. Our solutions expertly identify and measure third-party risk by assessing and aggregating relationship risk, business profile risk and control risk using powerful assessment tools, a logical workflow, industry-specific compliance and security standards, and a relevant business strategy. Through people, process and technology solutions tailored to an organization's needs, we help our clients to plan, develop and TPRM programs more effectively.
Optiv's Solutions for Mitigating Third-Party Risk
Our services for managing third-party risk include:
- Third-party risk program assessment services to identify gaps in current programs and provide maturity level information and recommendations for improvement.
- Program development services to develop new third-party risk programs or refine existing programs. Our services provide policies, tools and scoring methodologies that help to optimize flexibility and scalability as you develop and execute your assessment program.
- Discovery and categorization services that help to identify and classify all third-party relationships and narrow the scope of third-party risk management to concentrate on partners that represent the greatest risk.
- Security risk assessment services that help determine if vendors meet security requirements and industry standards, using a number of assessment options.
- Third-party managed services for collecting, maintaining and scoring third-party risk to significantly improve compliance and risk management while lowering costs to the organization.
Learn more about third-party risk and Optiv.