Top Skills Every Third Party Security Manager Needs

A Third-Party Security Manager is responsible for ensuring that vendors, suppliers, and external partners comply with an organization's security policies and standards. To excel in this role, you need a combination of technical, analytical, and soft skills. Here are the top skills every Third-Party Security Manager should have:

1. Risk Management & Assessment
• Identifying and evaluating third-party risks (e.g., data breaches, compliance violations).
• Conducting risk assessments using frameworks like NIST, ISO 27001, or FAIR.
• Implementing vendor risk scoring models.

2. Vendor Security Assessments & Audits
• Performing security questionnaires, audits, and due diligence checks.
• Evaluating SOC 2, ISO 27001, HIPAA, PCI-DSS, or GDPR compliance.
• Reviewing penetration test reports and security policies of vendors.

3. Cybersecurity & Compliance Knowledge
• Understanding common threats (phishing, ransomware, supply chain attacks).
• Familiarity with security controls like encryption, access management, and incident response.
• Ensuring vendor compliance with regulations (GDPR, CCPA, HIPAA, SOX, etc.).

4. Contract & Legal Knowledge
• Working with legal teams to draft security clauses in vendor agreements.
• Reviewing Data Processing Agreements (DPA) and Service Level Agreements (SLA).
• Enforcing cyber insurance requirements in contracts.

5. Communication & Stakeholder Management
• Effectively communicating risks to executives, legal, IT, and vendors.
• Presenting security findings in non-technical language.
• Negotiating with vendors to implement security improvements.

6. Incident Response & Vendor Breach Handling
• Creating third-party incident response plans.
• Coordinating breach notification & response with vendors.
• Ensuring vendors meet reporting and remediation timelines.

7. Security Frameworks & Best Practices
• Familiarity with ISO 27001, NIST CSF, CIS Controls, SOC 2, SIG, CAIQ.
• Implementing Third-Party Risk Management (TPRM) programs.
• Applying Zero Trust principles to vendor security.

8. Continuous Monitoring & Threat Intelligence
• Using TPRM tools (BitSight, SecurityScorecard, UpGuard) to monitor vendor security posture.
• Staying updated on third-party breaches and supply chain attacks.
• Working with SOC teams to track vendor-related threats.

9. Project Management & Process Improvement
• Implementing vendor security workflows using GRC tools (OneTrust, Archer, etc.).
• Automating third-party risk assessments for efficiency.
• Managing vendor security remediation projects.

10. Technical Security Knowledge (Bonus but valuable!)
• Understanding network security, cloud security (AWS, Azure, GCP).
• Knowledge of penetration testing, secure coding, and data encryption.
• Familiarity with SIEM tools, IDS/IPS, and endpoint security.