The Difference Between Inherent and Residual Vendor Risk Webinar

Vendor risks are always present, and you can never completely eliminate them, but it’s possible to reduce the likelihood, occurrence, severity, and impact of those risks through solid risk management practices and controls. Inherent risk is the level of risk present in any vendor engagement before any controls are put in place, while residual risk is the risk that remains after mitigation efforts are made and controls have been verified. It’s true that you can’t have inherent risk without the residual risk; however, they each serve a distinct purpose.

In this session we’ll discuss what inherent and residual risks are, how to determine them, and how they are applied in third-party risk management.

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