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Managing Third-Party
Security Is Challenging

Much like securing your own organisation, third parties present a range of risks to contend with, but with an added factor - they are separate entities that offer limited visibility of their internal security.

  • Do you have a clear understanding of third-party risks?

  • How do you measure the risk posed by each third party?

  • Are your effectively managing your third-party risks?

  • How do you keep your third-party risks within acceptable limits?

Even modestly sized companies typically have a long list of third parties that require a risk strategy, and there are choices to make:

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Do Nothing – hoping for the best is not a viable option. Protecting data is paramount. Legal responsibilities and industry regulations put an onus on firms to maintain a rigorous approach. 

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Do Everything – a ‘deep dive’ on every third party may feel right, but the time and effort required could easily leave an organisation drowning, and at a substantial cost.

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Be Proportionate – adopting a risk-based approach at the outset, taking appropriate action, and working with third parties is the right way for organisations to protect themselves.

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The Third-Party Climate
Is Always Changing

Most organisations engage in new third-party business relationships on a regular basis. In addition:

 

  • Depending on what they do for you, many of your third parties will now be reliant upon fourth and fifth parties, and beyond, to deliver their services.

  • The world we live and work in constantly evolves, and more rapidly than ever before, presenting both opportunities and threats.

  • There are now additional expectations on third parties, such as ESG, that further increase the challenge of management and coordination.

 

Like the weather, the threats you face will vary in shape, frequency, and risk, but there is a lot you can do to prepare. 

Key Security Threats
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Poor Incident Response

Supply Chain Attacks

Data Breaches

Unauthorised Access

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Insider Threat

Inadequate Security Practices

Malware Attacks

Future Threats…

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Meeting the Challenge
Whatever The Weather

Our experience and insights enable us to provide organisations with a broad range of support to strengthen their third-party security in three core areas:

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1. Responding to Threats

Based on understanding your suppliers, what they do, and the threats they pose. This enables a considered response in the form of assurance activities and, in turn, working with suppliers to address issues.

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2. Building Robust Foundations

Like many areas of business, a robust and well maintained set of foundations are essential to managing supplier risk.

3. Ensuring Operational Effectiveness

Strong oversight is the ‘glue’ that binds your overall strategy together and provides confidence to stakeholders.

Operations

Three Steps to Success

Our approach to third-party security has been built up over many years. This ensures clients gain the benefit of our experience and insights, and enables them to make ‘better decisions’ in an area of business that is always changing. We help clients in three steps:

Assess
Assess

Comprehensively understand your current strengths and weaknesses with our capability assessment.

Improve
Improve

Use your assessment results to shape a prioritised set of third-party security improvements.

Deliver
Deliver

With a plan in place, you can focus on ensuring you have the skilled resources you need to succeed.

Why i-confidential?

Why i-confidential for third party

      Delivery Support

Industry-leading consultants and a trusted resource network offer the support you need to get the job done.

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      Stakeholder Buy In

We help clients navigate the maze of diverse, disparate parties required to deliver third-party improvements. 

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     Experienced Practitioners

Our team consists of security specialists who are highly experienced in the third-party domain.

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      Proven Method

We have helped many clients assess and improve their third-party security.

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      Holistic Approach

We consider all aspects of third-party security to help clients act proportionately to reduce risk.

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How Do We Assess Your

Third-Party Capabilities?

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