The purpose

Rutgers Risk, Policy and Compliance Third Party Vendor Risk Assessment is the process of screening and evaluating third party suppliers as potential business partners. It aims to identify risks and hazards associated with the vendor’s processes and products and ensure that appropriate security controls are implemented to protect the confidentiality, integrity, and availability of data requirements set by the institution.

The process

The Third-Party Vendor Risk Assessment Process starts with a necessity of a business unit or school to acquire a product, software, or service offered by a third party that needs to use, process, transmit, store, or reproduce Rutgers University’s data. Procurement Services addresses this necessity by identifying different options and vendors in the market.