What types of control activities do you perform to mitigate vendor risk?
Perform comprehensive vendor risk assessments.
Develop a comprehensive vendor management program.
Establish detailed service level agreements.
Conduct regular vendor reviews and audits.
Monitor vendor performance and compliance.
Establish robust security standards and procedures.
Establish a dedicated vendor management team responsible for managing vendor relationships.
Ensure adequate insurance coverage for vendor activities.
Utilize a centralized system for tracking and managing vendors.
Require vendors to maintain adequate cyber security controls.
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