Without a proper third-party risk management (TPRM) program in place, relying on third parties can leave your business vulnerable and put your reputation in jeopardy. And with recent disruptive events and a greater reliance on outsourcing, the TPRM discipline has been thrust into the forefront like never before. As a result, many ad hoc TPRM programs no longer meet board-level requirements.
Still, building a scalable TPRM can be daunting, leaving many to wonder: Where do I even start?
In this webinar recording, we outline a 30-day blueprint for a successful roll-out of a TPRM program. The session focuses on the fundamental considerations when managing third parties while enabling your organization to put a solid foundation in place for long-term success.
Key takeaways include:
- How to efficiently gather information on the third parties in use at your organization
- Typical TPRM team structures and responsibilities
- Methods to tier third parties to prioritize risk identification and mitigation
- Common best practices at each stage of the third-party lifecycle, from onboarding to offboarding
- Key areas for workflow automation to enable long-term TPRM program scalability
- Critical metrics to track for TPRM program success