Manage third party risk using OneTrust Exchange

Moving beyond point in time assessments

Managing third-party risk means understanding how vendors, suppliers and partners affect your organisation’s exposure over time. Using OneTrust Third Party Risk Exchange, we help organisations move beyond point-in-time assessments by introducing structured, ongoing monitoring that keeps risk visible as circumstances change. This supports more consistent decision making, clearer evidence and a realistic view of third-party risk without relying on disconnected questionnaires or outdated reviews.

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Structuring third party risk management from the ground up

Why third party risk needs a consistent approach

Third party risk often grows organically as organisations add new vendors, platforms and partners. Without a clear structure, assessments become inconsistent and hard to maintain. The Data Privacy Group helps organisations use OneTrust Third Party Risk Exchange to introduce a repeatable approach to assessing and monitoring vendor risk. By standardising how information is collected, reviewed and tracked, teams gain clearer oversight, stronger accountability and a more reliable view of risk across their supplier ecosystem as it evolves.

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A practical approach to implementing third party risk management

Steps to establishing a sustainable third party risk programme

Create a Clear Vendor Baseline: Bring existing vendor and supplier information into OneTrust to establish a single, reliable view of third parties.
Understand Relative Risk: Group vendors based on the nature of the relationship, the data involved and the potential impact if something goes wrong.
Align to Recognised Standards: Apply assessment structures that reflect established frameworks and regulatory expectations while remaining proportionate.
Define Review and Decision Points: Set clear processes for assessment review, escalation and approval so risk decisions are consistent and repeatable.
Embed Your Risk Methodology: Configure scoring, thresholds and reporting so risk is measured in a way that supports informed discussion rather than box ticking.
Introduce Structured Workflows: Use OneTrust Exchange to manage onboarding, assessments and follow up actions without relying on email or spreadsheets.
Make Risk Visible: Build reporting that shows assessment status, outstanding actions and overall exposure so teams and stakeholders stay aligned.

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Bring structure and accountability to third party risk

Get clearer oversight of vendor risk and confidence in how it is managed. Speak to The Data Privacy Group about implementing OneTrust Third Party Risk Exchange in a way that supports consistent decision making, clear evidence and ongoing oversight across your supplier ecosystem.

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Third Party Risk Management Using OneTrust: Key Questions Answered

What is third party risk management in practice?

Third party risk management is the process of identifying, assessing and monitoring risks introduced by vendors, suppliers and partners. This includes understanding how third parties access systems or data and how issues are identified and addressed over time. In practice, it is about having clear processes and evidence rather than relying on one off checks or assumptions.

How does OneTrust Exchange support third party risk management?

OneTrust Third Party Risk Exchange provides a structured way to assess vendors, collect evidence and track risk status in one place. When implemented correctly, it helps organisations move away from spreadsheets and email based processes. We help configure Exchange so it reflects how risk decisions are made and reviewed across the organisation.

Can OneTrust Exchange work with our existing risk framework?

Yes. OneTrust Exchange is designed to support existing frameworks rather than replace them. We work with organisations to map their current methodologies, standards and risk appetite into the platform. This allows teams to maintain consistency while improving visibility, traceability and efficiency across third party risk activities.

How does this help with audits and internal assurance?

Auditors and internal stakeholders expect clear evidence of how third party risk is managed. We help configure OneTrust Exchange so assessments, supporting documents and review decisions are recorded together. This creates a reliable audit trail that shows how risks were assessed, monitored and addressed over time.

Is OneTrust Exchange suitable for smaller organisations?

Yes. Third party risk management does not need to be complex to be effective. We help organisations of all sizes use OneTrust Exchange in a proportionate way, focusing on the risks that matter most. The aim is to support consistent decision making without introducing unnecessary process or overhead.

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Elevate Your Third Party Risk Management

In today’s interconnected business environment, a robust TPRM programme is essential to maintain operational resilience and meet regulatory requirements. The Data Privacy Group’s comprehensive services enable you to assess, monitor, and manage vendor risks with confidence. Partner with us to strengthen your risk management framework, streamline compliance, and secure your organisation against third-party vulnerabilities. Embrace proactive risk management and focus on what matters most – growing your business securely.

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The team is an incredible resource to ensure our privacy program runs smoothly. Their ability to understand the intersection of privacy compliance with technical systems and to convey needed information to internal business partners effectively is a great asset to any privacy program. Peter and the DPG team are also great partners to work with on developing our overall privacy strategy.

SRIKANT MIKKILINENI

Senior Counsel, Privacy and Data Protection – Vontier

I really appreciate their authentic command of privacy laws and requirements. They are great project managers, great system folks and they substantively understand data privacy. I now have one view over the entire privacy and compliance footprint, globally. We were impressed at how quickly we got the job done with DPG, and the artefacts that the team left behind.

WILLIAM KARAZSIA

Assistant General Counsel, Privacy and Data Protection – Fortive

The Data Privacy Group provides us with a robust set of services and processes to ensure all aspects of our Data Privacy Management needs are met. Having fast-tracked our business to compliance, we now have the surety of an annual compliance audit as well as having a valued and reliable support system to deal with any ad hoc requirements we may have.

KANTA HIRANI

Finance Director – CSP Ltd.