Third-Party Risk Management

Third-Party Risk Management

Third-Party Risk

Automated third-party lifecycles for monitoring risk across vendors with ease

We can assist you in streamlining vendor management, from onboarding and appraisal to reporting and offboarding, as required. Gather the data you need to keep track of possible risks and apply essential controls.

Minimise Potential Third-Party Risk

With our custom configuration of your OneTrust modules, you’ll be able to easily monitor, evaluate, track, and mitigate potential risks associated with partnering with vendors. Produce reports to describe and track your commercial goals and relationships with vendors, automatically highlight risks and have the ability to monitor data over time for tracking and reporting.

Grow Your Vendor List

Proactively monitor risk analytics and control gap reports. For instance, use Third-Party Risk Exchange to access an international community of businesses and vendors to share privacy, security, and compliance information without requiring continual assessments.

Third-Party Risk Management

Automate Your Third-Party Risk Management Process

Rejuvenate each stage of your third-party lifecycle with automated workflows for:

• Vendor onboarding
• Assessment
• Risk mitigation
• Reporting
• Monitoring, and;
• Offboarding

Minimise Third-Party Risk and Build Trust Relationships

Modernise Onboarding and Centralise Your Vendor Inventory

Our custom configuration of your OneTrust Third-Party Risk functions will allow you to accumulate third-party data into a single, editable profile quickly and easily by automating onboarding workflows. Using one central dashboard, you will gain visibility across your entire vendor inventory and rank third-party relationships in order of importance.

Automated Vendor Risk Assessments with Dynamic Questionnaires

Our experts can help to transform your vendor risk assessment procedure with templates or build customised assessments to meet your precise needs. Utilise the powerful assessment builder to create smart questionnaires that ask only relevant questions based on the vendor’s responses.

Reduction of Third-Party Risk

Vendor risk mitigation recommendations and workflows help simplify decision-making and improve accountability. You can also track your risk reduction endeavours over time. There’s a choice of over 50 built-in control frameworks, or you can import your own. Act quicker with rules-based triggers to kick off workflows and promptly auto-assign to the relevant risk owner.

Monitor Vendor Risk and Performance Over Time

OneTrust’s Athena AI -a protective layer that can react and send a message whenever a new risk is detected- enables you to receive automatic notification of critical vendor changes. We can guide you through the integration with an abundance of plugins that automate workflows and enable information sharing across systems. We can also configure reassessment triggers using contract expiration dates and other triggers.

Track Vital Metrics and Maintain Records for Compliance

Improve your compliance endeavours with automated record-keeping and dynamic reporting. Build dashboards to reveal vital metrics with customisable displays based on user roles and preferences. Export brandable PDF reports to review with key stakeholders.

Third-Party Risk Exchange

Inform and accelerate vendor evaluations with easy access to risk analytics and control gap reports on thousands of vendors across 18 risk domains. Get all the security, risk, compliance, and ESG insights you need.

Login to the Third-Party Risk Exchange Community to Prioritise, Assess, and Monitor Vendors with Ease – Identify Your High-Risk Vendors

Organise your vendor assessment actions with immediate access to Auto Inherent Risk scores. Then, swiftly rank your vendors using these scores and other vendor Trust Profile data available within the Exchange.

Automate Your Third-Party Risk Management Process

The Data Privacy Group can help you rejuvenate each stage of your third-party lifecycle with automated workflows. You can learn more by getting in touch with our team of experts today.

Gain Access to Thousands of Vendor Trust Profiles

Access vendors’ Trust Profiles and comprehensive privacy, security, and compliance data, including ESG and cyber risk cores. Use the Exchange to conduct preliminary research and rapidly populate your vendor inventory, utilising Trust Profile data already aggregated within the Third-Party Risk Exchange.

Increase Efficiency with Automated Risk & Control Gap Analysis

Calculate your vendors’ potential risks across 18 domains. Rapidly request and access analytics without mundane assessment reviews, and simultaneously examine control gaps linked to the framework of your choice (NIST, ISO, and others), powered by the Shared Assessments SIG Lite.

Enhance Your Third-Party Risk Program with Powerful Reporting

Monitor risk exposure and automate record-keeping using dashboards and drill-down reports to maintain evidence of compliance. Generate executive-ready PDFs to provide board-level clarity.

Track Vendor Risks, Compliance, and Controls Over Time

Receive automatic updates whenever assessment responses and risk scores change. Acquire proactive alerts from vendors when they update privacy, security and compliance information and evidence within their Trust Profile.

Contact Our Team Today

Your confidential, no obligation discussion awaits.