Going From Inherent Risk to Residual Risk in a Fast Changing Landscape
There is no shortage of data to consume, but who has the expertise and bandwidth to keep on top of this veritable flood of information? The answer for many organizations may be in truly understanding the inherent risk of every relationship, and tying residual risk ratings dynamically to events revealed by monitoring tools and other data we gather.
- Organizations without an “army” of analysts can effectively monitor their third parties
- Issues surfaced in continuous monitoring affect residual risk
- To assess vendors who may be operating outside of data privacy addendums because of the new work-from-home dynamics
- An integrated risk view can and should include geopolitical, financial and other risks