Third Party Risk Management Assessment

Third-party risk management (TPRM) is a form of risk management that focuses on identifying and reducing risks relating to the use of third parties (sometimes referred to as vendors, suppliers, partners, contractors, or service providers). The discipline is designed to give organizations an understanding of the third parties they use, how they use them, and what safeguards their parties have in place. The key is to reduce cyber risk and liability from vendors in a cloud-enabled world in every organization in every industry as they increase their reliance on third parties for key business process outsourcing, and that is why we come in to help mitigate those risks.

• Choose Manorhouse, and we will help you develop third-party risk management services as follows:
• Provide guidance to clients by conducting third-party risk assessments and monitoring for multiple vendors 
• Perform control assessments for in-scope domains, including scheduling, executing, and reporting on the assessment 
• Conduct risk monitoring for in-scope domains for inventory of third-parties provided by the client 
• Provide remediation tracking and issue management for identified issues
• Define vendor security requirements
• Collect and standardize contracts

Let’s talk If you’re interested in learning how we can help, contact us for more information.