Managing Third Party Risks

A Managing Third Party Risks Consultant can help your organization in a number of ways, such as:  

  1. Supporting the organization in identifying and assessing risks associated with third-party relationships.
  2. Designing and implementing a third-party risk management (TPRM) program and framework.
  3. Partnering with the organization to establish due diligence processes for evaluating and selecting third parties.
  4. Developing and implementing risk mitigation strategies and controls to address identified risks.
  5. Coordinating with internal teams and external parties to manage and respond to third-party risks.
  6. Assisting in the development and maintenance of contracts and agreements with third parties, including service level agreements, security requirements, and incident response provisions.
  7. Routinely  monitoring and assessing the effectiveness of the TPRM program and recommending improvements as needed.
  8. Providing training and education to employees on TPRM best practices and the organization’s TPRM program.
  9. Assisting in the development and implementation of TPRM tools and technologies to support the TPRM process.