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Framework for a Third Party Risk Management Program

Page 1 of 9 TerraNua 2016 Framework for a Third Party Risk Management Program Get a clearer picture of the risks posed by vendors and Third parties Page 2 of 9 TerraNua 2016 Framework for a Third Party Risk Management Program In this paper we outline the key steps that you will need to take when constructing your requirements for a modern and dynamic Third Party risk Management solution. A proposed Framework to implement your Program is presented for your review. When designing a Third Party risk Management Program , it is proposed to divide the process into two distinct stages: 1.

Risk scoring is the process of giving a value to the level of risk a third party represents. The total risk score is built on multiple values. Depending on your model, the structure and content of the total score ... tools such as matrices is key. Other analytical reports that show changes in risk profile over time are also very helpful to show ...

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