Is your organization aware of — and sufficiently protected from — third-party risk?

Recent security breaches that involved third parties have made headlines and grabbed the attention of consumers worldwide. These incidents starkly highlighted the data and information security, regulatory, compliance, financial, and brand/reputational risks that can threaten your organization without an effective TPRM program in place.

Despite the overwhelming evidence, a Deloitte survey found that 51% of organizations faced one or more third-party risk incidents while responding to COVID-19, and an AuditBoard survey of 800+ risk and compliance professionals found that 35% of respondents rated their TPRM program’s maturity as nonexistent or solely reactive. The message is clear: It’s time to strengthen your TPRM practices.

A new guide, Effective Third-Party Risk Management: Key Tactics and Success Factors, can help. Get your full copy of this resource to explore guiding principles and practical tips for building a successful TPRM program, including:

• Common third-party risk management program components, as well as common gaps and obstacles.
• Third-party risk identification, discovery, and risk categorization tactics.
• Best practices for creating a continuous monitoring environment.
• Guidance for effective issue management and reporting.