2023 is an important year for Third Party Risk Management. The landscape has changed significantly in a short period of time.
The reality of business has changed. The interconnectedness of internal and external interactions as well as the transversal nature of third-party risk represents a distinct need for firm-wide collaboration and coordination to identify and mitigate existing and future risks, underpinned by a holistic TPRM oversight, governance, risk management and compliance capability. How can you develop end to end capabilities to design, implement and embed a holistic TPRM operating model?
This Insight Paper covers tangible ways to tackle third party risk management. “TPRM” may be daunting and identifying where to start can be difficult. We provide context and sustainable components to help you put in place an effective operating model.
Our experts summarise the key learnings and perspectives to help maintain focus 2023:
Dealing with Complexity: An overview of the current landscape
10 Practical Tips on how to establish a Sustainable Third Party Risk Management Capability
How to join the Dots: Effective Governance
How to Adapt to an ever-expanding technological environment and risk landscape
Mathew Wells
Director
To adopt and embed a holistic TPRM capability and be fully equipped to address third party risk, firms can follow the 10 Practical Steps detailed in this Insight Paper. Your current maturity level will determine what your first step looks like, however, in beginning to take these steps, the journey towards an embedded holistic TPRM model is in sight.
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