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Building modern Third-Party Risk Management programs with Eric Hensley

Risk Management Show

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Rethinking Third-Party Risk Management

This chapter examines the shortcomings of traditional IT risk assessments in recognizing vulnerabilities linked to third and fourth-party risks. It highlights the importance of a cultural shift in viewing external partners as essential to business operations and emphasizes the need for integrated, automated approaches in third-party risk management. The discussion warns against outdated security models and advocates for dynamic strategies that align with the complexities of modern data sharing.

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