GovWire

The following Fundamental Elements consider the Third Party Cyber Risk Management Life Cycle within an individual entity and system-wide monitoring of cyber risk. Entities and third parties can use them as part of their cyber risk management toolkit. In doing so, entities should apply a proportionate approach that takes into account the size, nature, scope, complexity and potential systemic significance of cyber risks. Authorities within and across jurisdictions can use the Fundamental Elements to inform their public policy, regulatory and supervisory efforts to address third party cyber risks.