CRFQ’s Andrew Shea Selected as part of FAIR Institute Working Group on TAM for Third-Party Risk management

In Minneapolis today, CRFQ, the global leader in Cyber-Risk Quantification services, announced that its founder, Andrew Shea would be joining a working group on TAM for Third-Party Risk Management (TPRM) as part of his and CRFQ’s ongoing relationship with the FAIR Institute.

“Third-Party Risk is a top five concern for board members, senior executives and business unit leaders. The traditional approach of annual audits and questionnaires are not reducing third-party risk.” said Shea. In his work with the group, CRFQ and Shea will work to help develop a new approach to TPRM and move from moderately accurate security ratings to defensible metrics which hold up in the board-room and real life. CRFQ’s approach is based on joint risk scenario analysis and proactive planning to drive greater business resilience and minimize financial impact across a panopoly of risk scenarios.