Third Party Security Risk Management Framework

Third Party Security Risk Management Framework is a structured approach organizations use to identify, assess, and mitigate security risks posed by external vendors or partners. It ensures that third parties handling sensitive data or critical systems follow security standards, reducing potential threats like data breaches or cyberattacks. The framework involves evaluating third parties’ security practices, setting clear requirements, monitoring ongoing compliance, and managing any risks that arise. This process helps organizations protect their assets, maintain reputation, and ensure that working with external entities doesn’t introduce unacceptable security vulnerabilities.