Problem Statement
Explain how you would automate third-party risk management in a global organisation.
Explanation
Automating third-party risk involves integrating a vendor/onboarding platform with risk-assessment tools and GRC systems. First, classify vendors by criticality and geographic risk. Then trigger automated questionnaires when vendors are onboarded or renewed. Use scoring engines to assess risk and create dashboards showing vendor risk tiers. Integrate remediation tracking, alerts for high-risk vendors and link to contract management. Use APIs to pull continuous vendor security ratings. Finally align tasks with local legal/regulatory requirements. Demonstrating a structured automation approach shows practical advanced GRC reasoning. :contentReference[oaicite:5]{index=5}
Practice Sets
This question appears in the following practice sets:
