Third Party Risk Management

Third Party Risk Management

Risk Imperium’s comprehensive Third Party Risk Management (TPRM) framework addresses strategy, structure, people, process and technology issues across the TPRM lifecycle, helping your organisation to:

• Define a TPRM Strategy
• Develop a customized TPRM framework • Develop the TPRM policy, standards and procedures
• Assess your current environment
• Develop and enforce TPRM processes
• Increase the efficiency and effectiveness of vendor-related risk management
• Develop a risk stratification protocol to highlight risks by vendor
• Implement and conduct effective TPRM activities, such as vendor assessments

Risk Imperium understands vendor risk. We can help your organisation prevent third party-related disruptions by implementing a TPRM program that will strengthen your position and build more effective partnerships that protect your brand and business.

Risk Imperium works shoulder by shoulder with your organisation in the following areas;

• Strategy & Planning – Develop sourcing strategy, consider costs/benefits and develop business
• Evaluate and select – identify, assess risks and perform due diligence
• Contract and onboard – incorporate risks, compliance and performance requirements in the contract
• Manage and monitor – perform risk management and ongoing monitoring and coordination with each third party
• Terminate and offboard – determine need to terminate the third party and manage the offboarding process

Our TPRM Packages

• TPRM Training & Awareness
•  Development of the TPRM Framework
• TPRM Assessments
• Due diligence in selecting a third party
• Contract structuring and review
• Oversight
• TPRM Policies and Standards
• TPRM Deep dives, Assessments or Audits to identify gaps and make recommendations