Third party risks are the potential threats which can be presented to organizations’ employee and customer data, financial information from the outside parties that provide products or services and have access to privileged systems. Third Party Based risk management framework including the analysis, treatment and communication of risks.
Steps:
1. Log into the system
2. Go to “Risk MGT” module
3. Click on “Risk Management” sub module
4. Click on “Third Party Risk Management” link
5. Fill in all the details in the pop out Create Third Party Risk form accordingly which has different sections i.e. title, description, location, analysis, treatment and response plan section as shown in the example below
6. Once done click on the “Create” button to submit the details
7. The saved details will now appear in the third party risk management list as shown in the below example 7. This awaits reviews
