THIRD PARTY ASSURANCE
While many businesses have developed strategies to combat risk, these often lack the ability to identify and mitigate risk posed by third parties such as partners, suppliers and service providers. These third parties can have a significant impact on your risk posture it is critical that you have the right intelligence to inform action.
Our proactive, proven approach helps our clients control the risk posed by third party vendors, delivering a solution which offers them reassurance and assists ongoing assessment of their supplier base.
Proactive approach to controlling risk
We have a strong track record of managing third party assurance programmes which includes providing support and advice for one of the UK’s leading banks. Our service enables them to continually monitor their supplier base via regular inspections, as well as benefit from ad hoc inspections of potential new suppliers as part of their supplier vetting process.
- Design of third party risk programmes which align with in house risk methodologies
- Management of sending, receipt and assessment of information security questionnaires in line with third part risk classification
- Conducting on-site vendor inspections to understand their controls
- Reporting on compliance and overall vendor risk
- Recommendation of mitigation strategies and resulting risk impact
Valuable insight into supplier relationships
Working with our specialist team helps increase awareness of the impact of factors such as accelerating technology and volatile economic conditions which constitute potential external threats to our clients’ operations.
Benefits of working with ECS:
- We give clients insight into risk posed by their supplier base, allowing them to reduce it through appropriate action
- Our support complements existing third party assurance teams, freeing up time to focus on critical supplier relationships and key projects
- We increase our clients ability to make informed choices about new suppliers and understand potential risks they may pose
For more information on how our trusted experts can help protect the future of your business contact us now.