Project Overview: The Third-Party Risk Management Solution will enable CNIT to effectively mitigate risks posed by third-party entities, ensure compliance with relevant regulations, and enhance operational resilience. CNIT is seeking a solution that is scalable, integrates seamlessly with our existing systems, and supports proactive risk monitoring, reporting, and remediation processes. Key Requirements: 1. Risk Assessment and Due Diligence: o Ability to conduct and document thorough risk assessments for up to fifty (50) thirdparty entities. o Support for evaluating financial, operational, security, compliance, and reputational risks. 2. Continuous Monitoring: o Tools for continuous monitoring of third-party performance, risk levels, and adherence to contractual agreements. o Integration with relevant data sources to provide real-time insights. 3. Risk Mitigation and Action Plans: o Capabilities for developing and managing risk mitigation strategies and action plans based on assessment findings. o Automated workflow tools for managing risk remediation tasks and tracking progress.
