Managing Risks Emanating From Third Parties
With an increase in market maturity for managed services in this space, outsourcing third party risk management is now a viable option. However, when evaluating such services for your business, it is important to select a TPRMaaS provider that:
- Truly understands your business and industry, and you don’t have to continuously translate it for them
- Delivers results through your entire TPRM lifecycle.
- Continually incorporates industry intelligence for meaningful continuous monitoring.
- Enables you to make data-driven business decisions regarding your third parties.
Trustmarq’s TPRMaaS has been delivering on the above-mentioned benefits to our clients for over five years and we invite you to learn more about our service offering.
How It Works
Our service is designed to eliminate your pain points related to managing third party risks. Our flexible service delivery model can meet your complex business needs at desired service levels, while reducing your operational burden. Our service is simplified to the extent that it makes sense, as it starts delivering measurable results from the first month of engagement.
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Our service lifecycle is simply defined as below:
We establish communication channels with internal business stakeholders as well as third parties to establish business context and create a prioritized third party management plan for all vendors. Based on the established priority, our team determines third party active status in our system and initiates requests for response to initial questionnaires.
Driven by risk criticality, our team assesses each third party and establishes/confirms their security posture. We augment our assessment results with industry leading scores from BitSight, Security Scorecard, RiskRecon, and other reputable sources to provide a omni-directional view of third party risks back to you.
Any time your internal requirements change, or third party risk posture changes, a notification is sent to you for action request. We also continually feed updates into our your GRC platform so the latest updates are at your fingertips.
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Our service can be delivered as an end to end solution, or specific functions can be selected for delivery, all based on your business needs.
About Our Team
Our TPRM service leaders have been industry pioneers for over two decades. Our team consists of third party risk practitioners who can help keep your program caught up, starting with conducting third party risk assessments, and also ensure continual alignment with your business mandates and controls framework.
Regardless of your business size or the breadth of your need, we can help transform your program.
Our holistic service is made possible via our industry partnerships with Third Party Trust, ProcessUnity, ServiceNow, RSA Archer, and others. Together, we make managing risks simpler and cost effective for our clients, delivering accurate and timely results.
Maximize the use of your TPRM budget and demonstrate measurable results over time.
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