Talent & Third Parties in Cyber: Building the Future Workforce

1. Rising Importance of Third-Party Risk Management

Changing Dynamics:

• Increased outsourcing across industries, with startups and financial institutions heavily relying on third-party vendors.
• Companies are now managing hundreds of vendors, creating heightened risk exposure and operational complexity.

Role of Cyber Incidents:

• High-profile breaches (e.g. Crowdstrike) have increased awareness of third-party vulnerabilities.
• Regulators are tightening compliance requirements, driving demand for robust third-party risk management practices.

2. Evolving Talent Needs

Demand for Hybrid Skillsets:

• Cybersecurity practitioners must combine technical expertise with a deep understanding of legal, operational, and financial risks.

Critical Thinking and Relationship Management:

• Effective vendor management requires nuanced evaluation of vendor risks and ongoing monitoring, tailored to individual vendor roles.

Tools and Technology:

• Technology is needed to manage the extensive vendors relationship and resources

3. Opportunities in the Sector

Career Pathways:

• Third-party risk management is an accessible field for individuals with backgrounds in project management, legal operations, operational risk, and financial risk management.

Transferable Skills:

• Critical thinking, compliance understanding, and adaptability are key competencies.
• Professionals should cultivate an ability to harmonize fragmented regulations (e.g., GDPR, PDPA) while maintaining a holistic risk perspective.

Vision for the Future

Third-party risk management is no longer an IT issue—it’s a multidimensional challenge requiring collaboration between cybersecurity, legal, operational, and financial domains. By leveraging technology, fostering interdisciplinary skills, and adopting a proactive approach, organizations can navigate vendor-related risks and build more resilient ecosystems.

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Speakers:

• Niko Akatyev, Principal Consultant, Bitdefender
• Rowena Lee, Director, HRS Talents
• Thomas Kung, CISO & CRCO, Rakkar Digital

Moderator: