TPRM Capabilities and Maturity Assessment

PRIMARY CONTACTS:
Eric M. Wright CPA, CITP
William M. Deller CISA, CTPRP, CTPRA, CCSFP

A capability is anything an organization does well that drives meaningful business results. Capabilities drive up resilience, and drive down risk.

We perform capabilities and maturity assessments to understand how an organization’s Third Party Risk Management program stacks up next to comparable organizations in against leading practices as well as help to identify bottlenecks and target areas of improvement. The assessment process evaluates an organization’s level of maturity for critical components of a TPRM program, and quantitatively scores that level of maturity. Ultimately, this assessment helps organizations develop and/or mature a centralized governance model and provides the tools to maintain it and continuously improve. The following are examples of areas to benchmark and assess maturity:

Program governance
Policies, standards and procedures
Contract management
Vendor risk identification and analysis
Skills and expertise
Communication and information sharing
Tools, measurement and analysis
Monitoring and reviewing

Additional TPRM Services

Schneider Downs TPRM Resources

Built by our tenured team of security, risk and compliance practitioners. We have leveraged decades of diverse subject-matter expertise and experience to be able to provide the following resources and tools:

How Can Schneider Downs Help?

The Schneider Downs Risk Advisory Services team has the expertise, credentials and tools to help you build, implement, recalibrate, and manage a world-class third party risk management program. We understand that outsourcing business functions to third parties is essential in today’s business environment. While outsourcing provides benefits such as increased efficiency and cost savings, it also increases an organization’s risk exposure to a myriad of threats presented by outsourcing. Understanding how to identify and manage the risks presented by third party providers is vital for any business.

For more information visit www.schneiderdowns.com/tprm or contact us to get started.

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