Identify and prioritize the suppliers
Each supplier holds a different role in the ongoing functionality of financial processes and in varying capacity. Therefore, the risks are different as well and we need to prioritize which of them to address first.
Once the unit reviews an organization all the financial organization using this supplier's services can relay on those findings in their own risk management procedure as well as in complying with regulatory obligation for surveying it's service givers. This way, the burden of being surveyed numerous times a year by different reviewers and according to changing standards is lighten for the supplier.
Cutting edge approach to raise the resilience
Business continuity, especially in the cyber domain, is an ongoing effort. Hence, part of the unit activity is to bring the suppliers onboard with existing government activity in the financial sector including integrating them as members of the finance cyber and continuity center. Moreover, the unit assists with relevant exercise arrange conference and forums and act as a guide for the chain of supply organizations in the financial sector.