Managing Third Party Risks
A Managing Third Party Risks Consultant can help your organization in a number of ways, such as:
- Supporting the organization in identifying and assessing risks associated with third-party relationships.
- Designing and implementing a third-party risk management (TPRM) program and framework.
- Partnering with the organization to establish due diligence processes for evaluating and selecting third parties.
- Developing and implementing risk mitigation strategies and controls to address identified risks.
- Coordinating with internal teams and external parties to manage and respond to third-party risks.
- Assisting in the development and maintenance of contracts and agreements with third parties, including service level agreements, security requirements, and incident response provisions.
- Routinely monitoring and assessing the effectiveness of the TPRM program and recommending improvements as needed.
- Providing training and education to employees on TPRM best practices and the organization’s TPRM program.
- Assisting in the development and implementation of TPRM tools and technologies to support the TPRM process.
