PCI QSA Company, Certified as ISO 27001 & 9001

The world is flat, Organizations are connected to 3rd parties, 3rd parties add risks to your business.

Speak to a TPRM Specialist Businesses that frequently review their third-party risk management policies and programs are less likely to suffer a data breach. As a result, companies can safely capitalize on new business opportunities with less worry.

Third Party Risk Management

In this connected world, businesses rely on large number of external parties to perform core business functions. These third parties include but are not limited to suppliers, contractors, partners, and associates.
By utilizing third party services, organizations increases their revenue potential to a great extent. As the reliance on the external parties increase, so does the risk. The company is responsible for the actions of its third parties, hence it is important to monitor and manage those risks seriously.

GOVERNANCE & FRAMEWORK

  • Defines the Third Party Risk Management (TPRM) framework
  • Defines program policies, procedures, and templates
  • Identifies maturity levels of the existing program
  • Recommendations on the improvement of the program governance
  • Technology selection & customization

PROFILING

  • Reviews the list of third parties
  • Risk based categorization of the third parties
  • Mapping the key risk indicators of the third parties

INITIAL ASSESSMENTS

  • Reviews Master Service Agreements (MSA), Contracts and Statement of Work (SOW) documents
  • Potential scan for open ports
  • Scans dark web and potential emails for phishing
  • Reviews financial status and notifications
  • Reviews past assessments and remediations
  • Reporting if your third party meets your cyber requirements

RISK ASSESSMENTS

  • Access to various risk assessment models (customized or standard)
  • Remote assessments based on predefined questionnaires (such as the Shared Assessments Group’s Standardized Information Gathering (SIG))
  • On-site site risk assessments at client locations
  • Reporting if your third party meets your cyber requirements

REMEDIATION MANAGEMENT

  • Coordinating the remediation actions between first party and third party
  • Tracking the remediation actions by the third parties
  • Reporting remediation progress

RISK MONITORING & REPORTING

  • Continuous monitoring of third party risks
  • Continuous monitoring of third parties on sanctions, embargo list, stated-owned companies, politically exposed personas, negative media, and related risks
  • Continuous monitoring of open, deep, and dark web

ONGOING PROGRAM MANAGEMENT & FOLLOW-UP

  • Manages the third party risk management life cycle
  • Manages the audit/assessment renewals
  • Updates third party risk data regularly

Let us help you with our Third Party Risk Management Services

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