Third-Party Risk
Implement a complete TPRM lifecycle: onboarding, due diligence, contractual controls, and continuous monitoring.
What you get
A comprehensive TPRM system that manages vendor risks throughout the entire lifecycle - from onboarding to continuous monitoring and potential termination.
TPRM Components
Comprehensive approach to third-party risk management.
Vendor Onboarding
Structured process for evaluating and approving new vendors
Due Diligence
Thorough background research and risk assessment
Contractual Controls
Security requirements and clauses in contracts
Continuous Monitoring
Regular assessment of vendor risk profiles
Risk Categories
Key risk areas in third-party services.
Cybersecurity Risks
Vendor cybersecurity risks and vulnerabilities
Data Processing
Personal data and confidential information processing
Regulatory Risks
Compliance requirements and legal adherence
Operational Risks
Service availability and business continuity
TPRM Lifecycle
Structured process for managing vendor risks throughout the entire partnership.
Identification and Classification
- Vendor inventory
- Criticality classification
- Risk level definition
- Service category mapping
Assessment and Approval
- Due diligence process
- Security assessment
- Reference checks
- Approval process
Contract Management
- Security clauses
- SLA requirements
- Audit rights
- Termination conditions
Ongoing Management
- Regular assessments
- KRI monitoring
- Incident management
- Performance monitoring
Assessment Criteria
Key factors in vendor risk assessment.
Security Level
ISO 27001, SOC 2, and other certifications
Geographic Location
Data location and jurisdictional risks
Organizational Maturity
Governance models and process maturity
Financial Stability
Creditworthiness and financial situation
Implementation Process
Step-by-step approach to building a TPRM system.
Inventory
Vendor mapping and classification
Risk Assessment
Vendor-specific risk analysis
Due Diligence
Thorough background investigation
Contract Negotiation
Security requirements inclusion
Ongoing Monitoring
Regular risk profile updates
Ready to build a TPRM system?
Let's discuss your vendor risk needs and design an effective management model.