Not All Vendors Pose the Same Risk: Mastering the Recipe of Risk Appetite and Vendor Risk Management Recording

An organization’s risk appetite statement (RAS) guides its management team on how to make risk-based decisions about business and growth strategies. Risk appetite is traditionally applied to enterprise and operational risk management, but it can be leveraged across a variety of risk areas.

While vendor risk management is a well-accepted and increasingly regulated requirement across organizations to ensure due diligence oversight of third-party providers, endlessly collecting questionnaires is not risk management. In today’s digitally connected business, cyber and vendor risks are tightly interwoven, and both are important to your company’s ability to be resilient and offer consistent performance. How can you apply your risk appetite across your vendor risk program?

In this webinar, we’ll discuss the key risk indicators (KRIs) to monitor if you tier vendors by level or risk. We’ll discuss appropriate leading and predictive KRIs for vendors, and how to set and monitor thresholds. Finally, we’ll discuss how these vendor risk insights connect to your enterprise risk appetite statement and overall ERM strategy.

Speakers:

Terence Lee, VP of Risk, North America, Protecht

Jared Siddle, Director of Risk, North America, Protecht

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