Third Party Risk / Vendor Risk
RiskCounts helps clients build and operationalize robust Third-Party Risk Management (TPRM) frameworks, covering policy design, risk assessments, and ongoing monitoring. We review contracts, define SLAs, and ensure compliance with regulatory expectations. Our team also supports TPRM technology enablement and executive-level risk reporting.
Governance & Framework Development
Technology & Reporting Enablement
Risk Assessment & Due Diligence
Contract Risk & SLA Reviews
Monitoring & Performance Mgmt
FrameworkGovernance & Framework Development
- Design TPRM policies and operating models
- Define risk tiers, assessment criteria, and governance structures
- Align with standards like ISO 27036, NIST, and OCC guidelines
- Define risk tiers, assessment criteria, and governance structures
- Align with standards like ISO 27036, NIST, and OCC guidelines
Risk AssessmentRisk Assessment & Due Diligence
- Conduct onboarding and periodic vendor risk assessments
- Evaluate cyber, operational, legal, and reputational risks
- Tailor diligence based on vendor criticality and services
- Evaluate cyber, operational, legal, and reputational risks
- Tailor diligence based on vendor criticality and services
Contract ReviewContract Risk & SLA Reviews
- Review and negotiate risk clauses (data security, liability, exit)
- Define measurable SLAs and breach notification timelines
- Ensure regulatory compliance and business continuity clauses
- Define measurable SLAs and breach notification timelines
- Ensure regulatory compliance and business continuity clauses
MonitoringOngoing Monitoring & Performance Management
- Implement continuous monitoring tools and periodic reassessments
- Track SLA performance, risk indicators, and compliance breaches
- Conduct annual reviews and site visits for critical vendors
- Track SLA performance, risk indicators, and compliance breaches
- Conduct annual reviews and site visits for critical vendors
ReportingTechnology & Reporting Enablement
- Help implement TPRM platforms (Archer, MetricStream, OneTrust)
- Develop dashboards for risk visibility and board reporting
- Integrate TPRM with enterprise risk and compliance systems
- Develop dashboards for risk visibility and board reporting
- Integrate TPRM with enterprise risk and compliance systems
Work with the practitioners
This advisory is critical in today’s interconnected business environment where vendor relationships can expose organizations to significant operational, reputational, and regulatory risks. By proactively managing third-party risks, organizations can maintain business continuity, protect customer data, and uphold stakeholder trust.
