Third-Party Risk Management (IT & InfoSec)

For a financial institution, Kristensson provided expertise to strengthen the organization’s third-party risk management framework. We reviewed and enhanced how the financial institution assesses and oversees its suppliers and service providers. This included maintaining and implementing a robust process for initial risk evaluation, ongoing vendor monitoring, and clear reporting on third-party risks. A key focus was integrating business continuity planning (BCP) into vendor management, ensuring the organization is prepared for any disruption in a supplier’s services. We also helped develop detailed exit plans for critical providers so the financial institution can smoothly transition or replace services if needed, without impacting operations. These measures have given the organization greater confidence in its vendor resilience and ensured compliance with regulatory expectations on third-party risk.