Remove Acceptable Risk Remove Cybersecurity Remove Healthcare
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The Difference Between Strategic and Operational Risk

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New technologies, increasing digitization, and evolving customer demands create risks that can disrupt operations, weaken cybersecurity, and harm the organization’s reputation or financial position – and above all, leave the organization unable to achieve its business objectives. Cybersecurity events, such as data breaches.

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Third-Party Due Diligence Best Practices

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However, in cybersecurity, you need to update it to “if you build it, they will come, but they won’t get in.” Due diligence in vendor management requires you to maintain that security-first approach and find organizations that also take cybersecurity seriously. The old(ish) saying goes, “if you build it, they will come.”

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Important KPIs for Successful Vendor Management

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Beware, however: vendor risk management is a complex process unto itself, requiring ongoing monitoring and measurement. When onboarding a new vendor, ask to see the metrics and dashboards it uses for operational performance and cybersecurity monitoring. What Are the Most Common Vendor Risks? Cybersecurity.