vendor management checklist template

vendor management checklist template is a vendor management checklist sample that gives infomration on vendor management checklist design and format. when designing vendor management checklist example, it is important to consider vendor management checklist template style, design, color and theme. vendor risk management is top of everyone’s mind considering recent headline grabbing supply chain attacks, such as solarwinds. for your organization to be truly protected against supply chain cyber risks, you must develop a robust vendor risk management (vrm) program. ✔ has a documented risk assessment policy and methodology that identifies and priorities digital assets. ✔ has a vulnerability detection and management policy. ✔ assesses the likelihood of cyber threats and scenarios on a regular basis. ✔ has documented practices for security hygiene, including software patching and configuration management. ✔ conducts external and internal tests to identify vulnerabilities and attack vectors, including penetration testing—ask for the results of those tests. ✔ has documented security training plans for employees who handle and safeguard sensitive information.

vendor management checklist overview

✔ has established a business continuity and disaster recovery plan in the event of a cyber incident, including data recovery. ✔ has a communication plan to notify customers of cyber incidents. ✔ has presented proof of compliance with regulations such as hipaa, pci dss, nerc cip, fisma, and more. ✔ security practices adhere to security frameworks, including nist and cis controls. as your vendor portfolio expands, it’s critical that you find a way to manage vendor risk from procurement all the way through the entire vendor relationship—efficiently and at scale. a scalable, end-to-end vrm program is one that continuously detects, monitors, and mitigates vendor risk. bitsight vrm, which combines workflow automation with objective data about your vendors’ security postures, is key to this approach. take a look at how alameda alliance for health uses bitsight vrm to conduct the entire vendor assessment and management process in one centralized location, improving efficiency across their vrm program.

vetting and choosing vendors are some of the most important decisions you’ll make for your business, especially when it comes to information security. this information should help you rank the risk that potential vendors would pose to your organization, which strengthens your organization and protects you from insecure or irresponsible vendors. streamlining the vendor due diligence process is essential to its success so that it doesn’t become arduous and intimidating. this general information will confirm that the company is legitimate and licensed to do the work you need. assessing financials may seem irrelevant to your vendor selection process, but you do want to ensure that potential vendors are financially solvent. would you want to hire a firm whose managing partner for audit quality was convicted of fraud?

vendor management checklist format

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vendor management checklist guide

gathering insurance information from potential vendors is similar to gathering general information – it’s a must-have and foundational to your decision-making. when a vendor performs a service for you that impacts your data security or privacy programs, you must do a thorough vetting of their information security program. if a potential vendor cannot provide policies that cover change management, data retention, or privacy, they probably do not have the controls needed to protect your organization’s data network, hardware, or cloud. if you choose a vendor without vetting and assessing what types of vendor risk they present and whether the relationship will help achieve your objectives, you can put your business in jeopardy. if you still have questions about vendor relationships and they can impact information security, or if you want to put kirkpatrickprice through your vendor due diligence checklist, let’s talk today! we strive to enhance your business by placing security and compliance at the forefront of the current cyber threat landscape.