Effective third-party risk management involves performing due diligence proportionate to the level of risk each supplier presents to your organization.

Monitoring the risk management practices of fourth and Nth parties is essential to ensure alignment with your organization's standards.

A combination of screening, desktop, and on-site assessments should be utilized to balance practicality with the severity of the supplier’s risk level.

Using external consultants and threat intelligence monitoring can help fill gaps in manpower and enhance continuous risk monitoring efforts.