Third-Party Governance Framework Design

Focus

Covering the full vendor lifecycle, from onboarding risk assessment to exit, with clear internal ownership at each stage.

Approach

1. 01

   Segment vendors by criticality and data access, rather than one assessment for every vendor.

2. 02

   Define assessment criteria proportional to that segmentation: security, resilience, data handling, concentration risk.

3. 03

   Assign internal ownership for each lifecycle stage, including contract, monitoring and exit.

4. 04

   Build a monitoring cadence that catches drift between contracted and actual vendor practice.

Deliverables

• ·Risk Register segmented by vendor criticality and data access
• ·Operating Model for the third-party governance framework
• ·Evidence Register for ongoing monitoring and re-assessment
• ·Exit and offboarding governance checklist