Third-party ICT risk is a major source of regulatory exposure. Founders must proactively monitor vendors and partners.
Table of Contents
- Identify Critical Vendors
- Due Diligence Process
- Contractual Safeguards
- Ongoing Monitoring
- Audit & Review
- Conclusion
Identify Critical Vendors {#identify}
- Cloud providers, data hosts, AI APIs
- Payment processors
- Security & monitoring tools
Due Diligence Process {#due-diligence}
- Check financial stability
- Assess cybersecurity posture
- Evaluate past compliance history
Contractual Safeguards {#contract}
- Include DORA-specific clauses
- SLAs on incident reporting, monitoring, and data handling
- Define roles & responsibilities
Ongoing Monitoring {#monitoring}
- Continuous dashboard checks
- Incident alerts
- Quarterly performance review
Audit & Review {#audit}
- Annual audits or after incidents
- Corrective action plans
- Documentation for regulators & investors
Conclusion {#conclusion}
Robust third-party risk management ensures operational resilience, regulatory compliance, and investor confidence.
