Vendor-Provided Resources

As data breaches occur more frequently, it’s become increasingly important to ensure both your organization and third-party vendors keep data secure. Data can be impacted by privacy and security incidents, both of which can occur through your third-party vendors.

Vendor data breaches can range in severity, from minor incidents to significant events that create operational failures and require public disclosure. Protecting your organization from vendor data breaches begins with learning about the different categories and types of data breaches that can occur so you can better safeguard your organization.

Download the infographic to learn:

• The difference between a privacy incident and security incident

• Examples of the types of data at risk

• Common types of vendor data breaches

• Safeguarding tips

Vendor risk management is a complex practice that requires a thorough understanding of your organization's objectives, regulatory requirements, and vendors' business practices. It also requires ongoing effort to stay informed and manage new and evolving vendor risks.

Following the tips and best practices in this mini handbook can help maintain an effective vendor risk management program that protects your organization and customers.  

Download the handbook to learn:

• Answers to frequently asked questions

• How to follow the vendor risk management lifecycle

• Tips to mature your vendor risk management program

Since the board of directors is ultimately accountable for the oversight of third-party risk management, they need up-to-date information. This is provided through third-party risk management board reporting.  Presenting reports to the board or a board committee can be a challenging task, but it’s also a rewarding opportunity for TPRM professionals to showcase their knowledge and expertise. Venminder has put together a powerful toolkit to set up your organization for success.  

Download the toolkit for: 

• An infographic that covers what and when to report information to the board

• An eBook that explains in-depth what data to include in the reports

• PowerPoint templates your organization can use when preparing board reports 

• PowerPoint examples of monthly and annual board reports

Vendor due diligence is one of the most vital activities within third-party risk management. It must be done before you sign the contract and as part of your re-assessment. This process of reviewing your vendors’ documents on a regular basis helps ensure these relationships are safe and sound.  It’s not always clear when and how often vendor due diligence should be done. By following these recommended guidelines for the frequency of due diligence, you can ensure your time and efforts are well spent.  

Download the infographic to learn: 

• What vendor due diligence is based on

• Frequency of vendor due diligence based on risk ratings 

• 3 situations that trigger additional vendor due diligence

One of the first activities in the third-party risk management lifecycle is completing an inherent risk assessment. This process identifies the different types and levels of inherent risk, which occur naturally within the vendor’s product or service. It also determines whether the vendor is critical to your operations.  This process must be thorough to generate an accurate risk rating, which ultimately impacts many third-party risk management activities, like due diligence and contracting.  

Download the infographic and sample questionnaire to learn: 

• Steps to complete an inherent risk assessment 

• Examples throughout the risk assessment process

• Risk areas to cover in an inherent risk questionnaire 

• Sample questions for your inherent risk questionnaire

Ongoing geopolitical, economic, and environmental uncertainties can make operating a business today challenging to say the least. Outsourcing certain functions can save time and money and potentially unlock new revenues, but it also opens your business to potential risks within your supply chain and vendor relationships.

According to a new Supply Wisdom survey, “Risk Management in a Technology-Driven World”, most businesses lack understanding of the potential risks associated with their third-party vendors, suppliers and contractors. Don’t be one of them.

In this blog, we delve into the risks associated with third-party data practices and offer strategies to safeguard your business and its data in this evolving landscape.

An organization's mindset and approach toward managing risks, also known as risk culture, plays a crucial role to manage third-party risks effectively. Risk culture is a key element in helping teams work together appropriately to achieve their objectives and maintain performance in unpredictable business environments.

Learn what organizations need to know and do to ensure they have a strong third-party risk culture.

Download the eBook to learn:

• The components of third-party risk culture

• Questions to determine if your organization's risk culture is proactive, neutral, or reactive

• Benefits of a strong third-party risk culture

• How to create a third-party risk culture

There's a lot to consider in this stage, including risk assessments, risk ratings, due diligence, and contract negotiations. Taking these steps will ensure the relationship between your organization and the vendor starts off on the right path.

The first stage in a third-party risk management program is onboarding any new vendor. There’s often a sense of urgency to onboard the vendor quickly, but it’s essential to proceed through the process with careful planning, consideration, and collaboration between both parties.

Download this complimentary toolkit that includes:

• eBook: This guide provides an overview of the onboarding process, with best practices and considerations for each phase

• Infographic: A quick overview of the onboarding process and how to have an effective onboarding strategy

• Checklist: An interactive checklist that covers key questions to consider throughout the onboarding process

Third-party risk management is a constantly evolving field as risks continue to emerge and evolve. As your third-party risk management program grows, it's important to learn recent best practices that can effectively protect your organization against third-party risk.

These 31 best practices will greatly help you on your path to improved third-party risk management practices for your organization.

Download the eBook to learn:

• 31 third-party risk management best practices

• Example scenarios to consider

• Recommendations to help you achieve third-party risk management success

Over the last few years, ransomware attacks have escalated both in frequency and the scope of industries affected. Destructive ransomware events are a serious subset of these attacks, which materially harm the victim by encrypting critical systems and impairing their operational capabilities.

Defining roles and responsibilities for your third-party risk management program is an essential step that provides structure and promotes a stronger work ethic throughout your organization. Once your stakeholders are identified and tasks are assigned, your program will be on the right path to success. 

One of the most effective methods to use in this process is called RACI, which refers to identifying the individuals that are responsible, accountable, consulted, and informed for third-party risk management tasks.

Download the infographic and template to learn:

• How the RACI method keeps your third-party risk management program organized

• Tips to implementing the RACI method

• Examples of the RACI method in action

• How to implement the RACI method in your program with a customizable template