Vendor & Supply Chain Security - Third-Party Risk Management
Your security posture is only as strong as the vendors, suppliers, and partners connected to your environment. NOXMON's Third-Party Risk Management (TPRM) program identifies, quantifies, and continuously monitors the risk your third parties introduce—so a vendor's weakness never becomes your breach.
Continuous, Quantified Vendor Risk
Traditional vendor risk programs rely on point-in-time questionnaires that are stale the moment they are submitted. NOXMON takes a different approach. We combine rigorous due diligence with continuous, evidence-based monitoring through RISKMON, our proprietary cyber risk quantification platform.
RISKMON translates every third-party relationship into a quantified, dollar-denominated view of risk using FAIR-based modeling. Instead of a color-coded spreadsheet, your leadership team sees the financial exposure each vendor represents, how that exposure is trending, and exactly which controls would reduce it most.
The result is a living third-party risk register—prioritized by business impact, mapped to the frameworks you report against, and updated continuously as your vendor ecosystem and the threat landscape evolve.
The NOXMON TPRM Lifecycle
1. Inherent Risk Tiering
- Vendor Inventory & Classification. Complete discovery of vendors, sub-processors, and supply chain partners, classified by data access, system connectivity, and business criticality.
- Inherent Risk Scoring. RISKMON tiers each vendor by inherent risk so due diligence effort is focused where exposure is greatest.
- Concentration Risk Analysis. Identification of fourth-party and concentration risk where many critical functions depend on a single provider.
2. Due Diligence & Onboarding
- Evidence-Based Assessment. Review of SOC 2, ISO 27001, penetration tests, and security documentation against your control requirements.
- Control Gap Analysis. Mapping of vendor controls to your obligations under frameworks such as NIST CSF, ISO 27001, PCI DSS, and NYDFS Part 500.
- Contractual Safeguards. Guidance on security clauses, right-to-audit, breach notification, and SLA requirements before contracts are signed.
3. Continuous Monitoring
- 24x7 RISKMON Monitoring. Continuous tracking of each vendor's external risk signals, breach disclosures, and posture changes—not an annual snapshot.
- Quantified Risk Trending. Real-time visibility into how each vendor's financial risk contribution moves over time.
- Alerting & Escalation. Automated alerts when a vendor's risk crosses your defined tolerance thresholds.
4. Remediation & Offboarding
- Prioritized Remediation. Risk-ranked remediation plans that target the controls delivering the greatest reduction in exposure.
- Issue & POA&M Tracking. Centralized tracking of findings, owners, and timelines through closure inside RISKMON.
- Secure Offboarding. Structured deprovisioning, access revocation, and data return or destruction validation when relationships end.
How RISKMON Powers Our TPRM Program
NOXMON does not bolt third-party risk onto a generic checklist. Every engagement runs on RISKMON, the same proprietary platform our analysts use 24x7 to monitor our own clients' enterprise risk. For TPRM, that means each vendor becomes a quantified node in your overall risk model—measured in financial terms, mapped to your compliance frameworks, and continuously updated.
Because RISKMON expresses risk as potential financial loss rather than abstract high/medium/low labels, your board and procurement leaders can make defensible, economically grounded decisions: which vendors warrant deeper scrutiny, where contractual controls are worth negotiating, and when a relationship's risk has grown beyond acceptable tolerance.
Program Deliverables
Quantified Vendor Risk Register
A living, financially-quantified inventory of every third party, tiered by inherent and residual risk.
Continuous Monitoring Dashboard
RISKMON dashboards showing real-time vendor posture, trends, and threshold breaches.
Due Diligence Reports
Evidence-based assessments with control gaps mapped to your regulatory obligations.
Board-Ready Reporting
Executive summaries that translate third-party exposure into clear financial and compliance terms.
"We had hundreds of vendors and no real way to prioritize them. NOXMON's RISKMON-driven program finally gave us a dollar figure for our third-party exposure and showed us exactly which five vendors were driving most of it. Our board conversations completely changed."
Tell us about your project
Our offices
- Houghton
Houghton, MI 49931
(212) 913-9184
info@noxmon.com - New York City
New York, NY 10011
(212) 913-9184
info@noxmon.com