Audit Outsourcing Risk Management 
Reciprocity
SEPTEMBER 11, 2024
To assure that all those parts are working as intended, you should perform a cybersecurity audit. Audits aren’t just good sense, either; many data privacy and security regulations require audits. That said, the steps for a cybersecurity audit can be long. Define the scope of your audit.
LogisManager
MAY 9, 2023
Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC By Steven Minsky | May 5, 2023 Silicon Valley Bank (SVB) was closed by regulators and reminded us of the recession associated with Lehman Brothers and Washington Mutual Bank in 2008. However, the evidence was inconclusive so their strategy continued unchanged.
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Fusion Risk Management
SEPTEMBER 1, 2021
In today’s world, where we have seen massive supply chain disruptions, data breaches, enforcement actions, and a stunning series of customer failures, the world of third-party risk management (TPRM) has never been under more scrutiny. Let’s examine what third-party risk management means. Risk Assessment.
Fusion Risk Management
AUGUST 17, 2021
Ask yourself one question: when is the last time I updated my third-party risk management policy and presented it to the board for approval? However, for the 1/3 that don’t, here are some helpful tips and notes: Scrutiny of third-party risk practices has never been greater.
Fusion Risk Management
JANUARY 5, 2023
A key focus has been on technology and data service providers (TSPs) , as cyberattack incidents such as SolarWinds and Log4j have proven that third parties present risks that significantly impact important business services. One legislation addressing these risks is the landmark Digital Operational Resilience Act (DORA). Audit Access.
Fusion Risk Management
SEPTEMBER 12, 2022
Even if it is difficult to use that regulatory hammer to secure funding for budget to purchase technology, this should not stop a progressive organization from using effective risk management disciplines to run their programs and serve their customers. Or, as so well articulated by the great British writer C. Contractual Obligations.
Reciprocity
OCTOBER 7, 2024
Third-party due diligence is the process of vetting suppliers, distributors, and service providers using a risk-based approach to uncover any red flags that may indicate a danger to your business. Making a list of all prospective third parties and assessing their risk is the first step in the third-party due diligence procedure.
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