Identifying critical third parties and determining effective oversight requirements

The views and opinions expressed in this article are those of the thought leaders as individuals, and are not attributed to CeFPro or any particular organization.

By Sean Miles, Associate Director, Risk, comparethemarket.com

How would you define ‘critical’ in a third-party risk perspective?

Critical providers are those providers without which a business could not deliver its core products and services, effectively, efficiently and on time.  Providers can be critical for several reasons; because they manage sensitive data, because they provide essential applications or infrastructure, because they speak to customers etc…

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