TPRM Capabilities and Maturity Assessment
Deliver sound risk management practices, internal control systems and compliance frameworks.
A capability is anything an organization does well that drives meaningful business results. Capabilities drive up resilience and drive down risk.
Third-Party Risk Management
We perform capabilities and maturity assessments to understand how an organization’s Third-Party Risk Management program stacks up next to comparable organizations against leading practices as well as help to identify bottlenecks and target areas of improvement. The assessment process evaluates an organization’s level of maturity for critical components of a TPRM program and quantitatively scores that level of maturity. Ultimately, this assessment helps organizations develop and/or mature a centralized governance model and provides the tools to maintain it and continuously improve it. The following are examples of areas to benchmark and assess maturity:
- Program governance
- Policies, standards and procedures
- Contract management
- Vendor risk identification and analysis
- Skills and expertise
- Communication and information sharing
- Tools, measurement and analysis
- Monitoring and reviewing
Additional TPRM Services
- TPRM Ad-Hoc Review Services
- TPRM External Assessor Services
- TPRM Program Implementation and Development
- TPRM Program Support Services
- TPRM Officer-as-a-Service
- TPRM Training, Education, and Awareness
Schneider Downs TPRM Resources
Built by our tenured team of security, risk and compliance practitioners. We have leveraged decades of diverse subject-matter expertise and experience to be able to provide the following resources and tools:
- AICPA SOC Report Review Template
- Schneider Downs TPRM Service Overview
- Schneider Downs TPRM Policy Template
- Schneider Downs Compliance and Third-Party Risk Management Guide
- Schneider Downs ‘Our Thoughts On’ Articles
How Can Schneider Downs Help?
The Schneider Downs Risk Advisory Services team has the expertise, credentials and tools to help you build, implement, recalibrate, and manage a world-class third-party risk management program. We understand that outsourcing business functions to third parties is essential in today’s business environment. While outsourcing provides benefits such as increased efficiency and cost savings, it also increases an organization’s risk exposure to a myriad of threats presented by outsourcing. Understanding how to identify and manage the risks presented by third party providers is vital for any business.
For more information visit i1xv.cjpk.net/tprm or contact us to get started.
