Vendor Risk Concerns Top of Mind for 83% of Survey Respondents

Concerns about third party risk continue to dominate the risk and compliance conversation. As enterprises outsource more and more of their business operations to third parties, their exposure to shared risk grows exponentially.

More than 150 risk and compliance professionals registered for Rsam’s webinar today titled “Vendor Risk Management Checklist: Are Your Ready?” During the webinar attendees were surveyed about their concerns about their current vendor risk posture:

  • 83% said improving their Vendor Risk Program in 2017 is a top priority
  • One-third of respondents are not ranking the criticality of vendors
  • Only 39% said they are able to validate the majority of responses from survey based vendor assessments
  • The most common regulatory concerns driving VRM programs are HIPAA, FISMA, FFIEC, SOX and PCI

You can learn more about constructing a Vendor Risk Management Checklist here.