steps to build third party risk management program

Vendor or enterprise third party risk related breaches are at an all time high. Several of the high profile breaches like Uber, Amazon, British Airways & more has been caused due to 3rd party. Most of the major security related framework, guidelines, compliance and regulations has made 3rd party risk management a mandatory part of overall security program. Following are the key steps for building an effective third party risk management (vendor risk management) program.