Masterclass: Utilizing Inherent Risk for More Efficient Vendor Management
The risks and importance of your third parties vary drastically. To build an efficient third-party risk management (TPRM) program, its critical to prioritize which vendors and suppliers present the most risk, as well as which ones are essential to your operations.
Insight into your third parties’ inherent risks can change the way you run your TPRM program, helping to increase security and performance. By understanding where to prioritize your time, you can onboard key vendors faster, spend the right amount time performing due diligence, and invest the most resources assessing and monitoring the third parties that matter most.
In this webinar, you’ll learn how inherent risks can help you:
– Determine the type, depth, and level of validation for vendor assessments
– Tier your third parties by criticality
– Build workflows across teams and involve the right stakeholders at the right time
– Streamline and scale your TPRM program