Episode #66: How to Build a Third Party Risk Management Program
Fred Kneip, The CEO of CyberGRX and Scott Schneider, the Chief Revenue Officer of CyberGRX both join this episode of Task Force 7 Radio to give an in-depth overview of the cyber security threats and challenges companies face through their third party relationships. These experts opine on the current state of third party cyber risk management, the common problems that most third party risk management programs are experiencing, what’s driving the need for enhanced TPCRM programs today, and how companies are structuring their strategy to mitigate third party risk. Kneip and Schneider also explain what level of diligence needs to be performed on each third party and how to determine which control failures could impact you the most, as well as what are the most common mistakes they are seeing in this space. They also give their advice to smaller companies that are being inundated with security questions from the potential clients they want to do business with.