Checklist Approach to Effective Third-Party Vendor Oversight

Firms rely heavily on third-party vendors in their day-to-day operations, but these vendors can introduce great risks. To mitigate risk, companies should systematically and thoroughly oversee each relationship. Once a third-party contract is established, companies should assess the vendor relationship for ongoing risk and develop procedures to address issues and risks as they are identified. This guide details risk-assessment considerations and steps to address and mitigate ongoing risk and compliance issues. See also “How to Maintain Effective and Secure Long-Term Vendor Relationships: Understanding the Risks (Part One of Two)” (Jun. 20, 2018); Part Two (Jun. 27, 2018).

To read the full article

Continue reading your article with a CSLR subscription.