Develop and continually mature the enterprise IT vendor governance for vendor segmentation, on boarding/off boarding, vendor management, spend management, compliance monitoring, vendor performance measurement, and Vendor Risk Management.

More Uses of the Vendor Risk Management Toolkit:

  • Provide technical guidance or support for the secure architecture of cloud infrastructure and lead cloud security audits.
  • Confirm your strategy complies; monitors the performance of the Compliance Program and related activities on a continuing basis, taking appropriate steps to improve its effectiveness.
  • Secure that your enterprise provides operational support on current processes and supports business operations and management in identifying opportunities and solutions to meet current and future business needs.
  • Establish: continuously evolve the Vendor Risk Management program and associated technology to adapt to changing business requirements on behalf of your organization.
  • Develop and oversee effective disaster recovery policies and standards to align with organization business continuity management program goals.
  • Standardize: in supporting the chief risk officers, provides oversight of your organizations anti money laundering, compliance, Vendor Risk Management, and information security programs.
  • Ensure issues are identified and resolved quickly and appropriately, and where necessary escalated to the Operations Lead for resolution.
  • Establish: monitor and evaluate third parties compliance with information technology (it) security, resilience, and dependability requirements across all capabilities using implemented capabilities.
  • Ensure that the metrics used to evaluate performance are properly tied to business outcomes and bias free, and that the associated communications around metrics are clear.
  • Support analysis of data and industry trends to identify business and risk improvement opportunities that coincide with the business.
  • Ensure you conduct; designed to combine organization specific, safety and soundness perspectives with a broader, horizontal view of the industry to anticipate and mitigate threats to financial stability.
  • Develop and improve workflows for initial procurement requirements, contract preparation, negotiation, and finalization to ensure contracts are completed and properly documented in organization systems.
  • Drive: client orientation maintains client relationships in the face of conflicting demands or directions and provides evidence based advice and solutions based on sound diagnosis and knowledge.
  • Drive for results identifies the needed resources to accomplish results involving multiple stakeholders and finds solutions to obstacles affecting key deliverables.
  • Manage: identity, measure, analyze, and manage information security risk and provide risk metrics and reporting on remediation progress and outcomes.
  • Formulate: in conjunction with the leadership team evaluate incentive plans and performance measures for appropriate adjustments and changes.
  • Head: review and present metrics to monitor control related developments, issues and trends in the management of Cybersecurity, technology and information security risks.
  • Secure that your team maintains policies and procedures for the general operation of the Compliance Program and its related activities to prevent illegal, unethical, or improper conduct.
  • Arrange that your corporation promotes strategic procurement for complex and high risk contracts and strategies and tools for routine procurement to achieve procurement efficiencies and value creation and savings.
  • Confirm your project complies; implements and monitors annual improvement goals for process metrics as cycle times, efficiencies and savings, ensure appropriate benchmarks are identified and reporting on the program at regular intervals.
  • Ensure you orchestrate; lead the IT risk management process to identify self identified risks, develop corrective action plans, and track progress to risk closure.
  • Devise: by focusing on open collaboration and open finance, supported by your open platform, you can create financial inclusion and open innovation for everybody.
  • Establish a strategic roadmap of features and criteria to be incorporated into the Vendor Risk Management program driving continuous improvement into the program.
  • Support activities to ensure that risk and controls are in compliance with regulatory requirements and remain in line with your organization risk appetite.
  • Manage the reassessment of the control environment of critical third parties through continuous ongoing monitoring activities and due diligence refresh.
  • Be accountable for conducting Vendor Risk Management activities in alignment with Visions Vendor Management Policy and Program and the NIST framework.
  • Steer: development and delivery of compliance metrics, demonstrable and actionable reporting, kris, and KPIs, to ensure effectiveness in compliance efforts.
  • Ensure you arrange; lead the identity and access management initiatives across your organization to establish least privilege principle for critical asset and information.
  • Collaborate with members of your engineering team during the design phase of new product development to understanding specific systems requirements and provide guidance related to Cybersecurity best practices.
  • Create a change management policy and process to ensure policies and programs are updated to reflect changes, and monitor to ensure changes are implemented.

 

Categories: Articles