Third-Party Risk Management

Focused on Keeping Third-Party Vendor Related Risks at Minimum

Citrin Cooperman can help you in the development of a third-party risk management program that is customized to fit your exact needs, including policies and procedures, questionnaires, inventory templates, etc. to be used in the next phase to assess existing vendors, and any new vendors on an initial and recurring basis.

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Services Included

Plan

  • We gain an understanding of the current state of third-party risk management efforts

Program Design

  • We develop a customized TPRM program. This can be used in the next phase for assessment of existing and new vendors

Assess Risk

  • We conduct an inventory of existing third-party vendors and perform a risk assessment

Support

  • On an ongoing, as-needed basis, we provide supplemental support for vendor assessment

Deliverables

  • Inherent risk assessments
  • Due diligence questionnaires
  • Risk management program

How Citrin Cooperman Can Help

Third-Party Risk Management (TPRM) is the process of identifying, assessing, and controlling risks presented throughout the lifecycle of your relationships with third-parties. A successful TPRM program begins in the procurement stage of a new relationship, provides guidance for maintaining and monitoring that relationship, and ends with an exit strategy for termination.

Our TPRM service model and methodology is customizable to your organization’s exact needs and provides you with access to our deep bench of technical and expert resources, so you can stay OnTRAC.

When You Should Reach Out

  • Your organization does not have an existing TPRM function
  • Your organization does not have an existing TPRM function
  • Your TPRM function is not technically strong to effectively monitor third-party risks
  • Your TPRM function doesn’t have the resource to timely monitor third-party risks

Deliverables

Value to Your Business

  • Alignment of TPRM program ongoing monitoring efforts with strategic business objectives to keep your organization heading in the right direction
  • Cost optimization delivered through an efficient and effective TPRM methodology that adds back value to your organization
  • TPRM talent – where and when you need them by tapping into a deep bench of technical and expert resources

For more information, please view our service guide.

Third-Party Risk Management Services Insights & Resources

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Our Third-Party Risk Management professionals are here to help.

Get in touch with a specialist today.