Third party risk management
The challenge of third party risk management
Managing the risks posed by the large network of third-parties associated with a company is becoming increasingly complex. How could the lack of appropriate controls within your third- party network impact your business? How does the financial health or cyber hygiene of your third parties effect your decisions on maintaining those relationships?
To be recognised as a responsible business it's essential to have strong governance and oversight on your extended enterprise. This includes visibility and influence over supply chain continuity, regulatory, cyber, data privacy and other material third party risks.
Deloitte's Third Party Risk Management (TPRM) managed service solution can help your firm identify, assess and manage risks posed by the interconnected network of third party relationships. The solution enables greater control of risk and opportunities, and improves visibility and performance over your third-parties in risk areas such as resiliency, sustainability, ESG (environment, social & governance), financial crime and more.
Client Case Studies
Fortune 500 Pharmaceutical Company
We advised our client on best practices for operating procedures and processes to increase their visibility of supply chain risks
Global Financial Services Institution
We helped our client to reduce costs by streamlining processes and remediating control weaknesses in their own and suppliers’ processes
Large Insurance Organisation
Our client was able to increase transparency and visibility in their business with our support in improving due diligence processes and enhancing their TPRM methodology
Top 10 Global Bank
With our expertise, a global bank was able to streamline their third-party risk tiering model by redesigning the TPRM program in alignment with the OCC bulletin 2013-29
Streamline your third party risk management with our managed service
Our proven track record in third party risk management
Experience
Over the past 12+ years we have conducted more than 175,000 third party risk assessments across various risk areas and industries in 60 countries, so you can trust the quality of our service
Global
We operate in over 60 countries with access to over 21,000 qualified risk professionals, so that your expedited business circumstances and local language nuances are accommodated.
Streamlined
Our time-tested managed services model includes processes and accelerators for intake, management, reporting and remediation tracking, in order to automate traditionally manual processes and increase efficiency.
Scalable
We have ability to efficiently ramp up and ramp down the third party risk assessment team, so that you don’t need to incur additional costs for hiring, onboarding and training of resources.
Automated
We have screened over 6,000 unique entities using our intelligently automated solution, enabling efficient and cost effective monitoring across hundreds of thousands of data sources
Efficient
Leverage our network of experienced professionals to increase the efficiency of your third party risk management solution. Our experience in executing over 3,000 Third Party Questionnaires enables us to work intelligently and effectively.
Our Solution
If you require a technology-enabled solution then we can provide our end-to-end technology platform to serve as an interface for our manage services, so that you receive streamlined end-to-end support.
Our proprietary platform combines mobile data-collection, performance improvement tools and mobile-optimised dashboards to deliver insights for effective risk management. Alternatively, we can also explore options to provide our services to you leveraging technology platforms that you already own.
Kenneth Leong
