Building a third-party risk program for your legal vendors is all about asking questions, both of your vendors and yourself as you think through the right way to do it. Let’s walk through some of the key questions you will want to ask through the lens of who, what, when, where, why and how (not necessarily in that order).
“Why” Assess Legal Vendors’ Cyber Risk?
The relationship between the Office of the General Counsel and their outside counsel is special because of the fluid nature of the engagement and trust built into the work they do. Introducing cyber risk management to this relationship should be handled with care, and ideally by the general counsel’s team to ensure the trust remains strong. But “why,” you may be asking, do you need your own third-party risk assessment at all if there are industry certifications such as SOC audits and ISO 27001 to rely on?
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