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<p><span style="color:#000000"><span style="font-size:24px"><strong>Third-Party Risk Management Standard Requirements Toolkit</strong></span></span><br />
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<p style="text-align:center"><span style="color:#000000"><span style="font-size:20px">Crucial Requirements:</span></span></p>
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<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">Is management periodically considering advise from external parties (e.g., customers, vendors and others doing business with the entity, external auditors, and regulators) on the functioning of an entitys enterprise Risk Management?</span></span><br />
</li>
<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">Do you look for vendors whose solutions are designed to facilitate your IWMS objectives. Do their solutions promote efficiencies, reduce costs, mitigate compliance-related risks and speed time to market?</span></span><br />
</li>
<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">Licensing expertise – Do you have the licensing expertise for smaller vendors with high audit risk, including product licensing, applying to servers/ clients/network access/virtualized environments?</span></span><br />
</li>
<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">Many organizations are unsure who should be in charge of managing third-party risk: in your organization, is it a function of procurement, legal, compliance, risk management or information security?</span></span><br />
</li>
<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">What specific staging, readiness and deployment techniques will the Vendor use to determine the proper sequencing of deployment processes and functions required for successful implementation?</span></span><br />
</li>
<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">Security Liability: can unencrypted computerized information or paper documents containing personally identifiable non-public information be acquired or accessed by an unauthorized person?</span></span><br />
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<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">Trust is the foundation of all personal and business transactions. and who can you trust in digital business, with its endless connections and constantly shifting configurations?</span></span><br />
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<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">What are the most effective ways to ensure that services provided by third-party service providers to your organization are performed in such a manner as to minimize cyber risk?</span></span><br />
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<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">If the system can not be patched, what mitigating controls might be used (for example, web application firewalls WAFs and intrusion prevention systems IPS, or virtual patching)?</span></span><br />
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<li style="text-align: left;"><span style="color:#000000"><span style="font-size:15px">From the point of view of dynamics, the decision to invest depends on how many others have taken similar actions. How do you get the process of investing in security started?</span></span><br />
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<p><strong>The U.S. Department of Commerce, National Institute of Standards and Technology (NIST) has included</strong> The Art of Service's Cyber Security Self Assessment on their Framework Industry Resources list since The Art of Service's Self Assessment <strong>is deemed qualified, accurate and comprehensive as a Guidance</strong> that Incorporates the Framework: <a href="http://zaale.com/l/J9dyb892892r4VxIWGcw892l7Etw/O5P9iK4Aj763yKQFoQwb7wew/96EL2eNa9YyE8iKBOhP04Q">https://www.nist.gov/cyberframework/industry-resources</a></p>
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