Best practices in third party risk management

Best practices in third party risk management | CeFPro® Research

Despite the awareness of the associated risks and challenges with third-party management, a growing regulatory landscape, and increasing pressure from stakeholders, there is a lack of clarity and action regarding how to build successful and defensible third-party risk management frameworks.

RESEARCH AIMS

What are we investigating?

The outcome of this study will serve as an invaluable resource that will demonstrate the heightened market pressures and awareness surrounding third-party risk management, and guide practitioners around the world to build mature, resilient TPRM frameworks amidst evolving challenges.

Market awareness

What impact are current TPRM programs having on the landscape, and is there consistency across the industry of how this is carried out?

Urgency of investment

What level of investment is required for institutions to improve their TPRM program?

Drivers of change

What are the key reasons that are motivating institutions to move toward a more serious, consistent, and defensible approach to TPRM?

Next steps to success

Are institutions aware of any gaps within their TPRM program, and what is required to overcome this?

Program maturity

Are institutions making strategic plans to ensure long-term TPRM program success?

Measuring maturity

Is the industry aware of the impact a mature, well-designed, well-run program will have on their institution?

Your participation will be pivotal in enabling the industry to shape institutional attitudes and practices towards third party risk management, and contribute to the collective knowledge of the industry while gaining valuable insights into cutting-edge strategies.

BENEFITS

Why should you participate?

Your participation is not just a contribution to industry knowledge; it’s an opportunity to enhance your professional standing, enjoy exclusive benefits, and stay informed about the latest trends in TPRM.

Elevate your expertise

Become recognized as a subject matter expert in third party risk management by sharing your valuable insights. Your expertise will be used worldwide and contribute towards shaping industry practices and solutions, establishing you as a go-to professional in the field.

Swift and confidential participation

We understand your time is precious. This survey is designed to be quick, taking only 5 minutes of your time. Rest assured, your responses are treated with the utmost confidentiality and anonymity. Your insights will be leveraged to enhance collective knowledge without compromising your privacy.

Exclusive rewards for your participation

As a token of our appreciation, participants will enjoy exclusive perks including a special discount for a CeFPro event of your choice, and entry into a prize draw for an additional free pass. Don’t forget your complimentary copy of the final report upon release!

In today’s business environment, third-party risk management (TPRM) stands at a critical crossroads. Global regulations and heightened stakeholder expectations have intensified scrutiny of organizations’ accountability for a range of risks within their supply chains. Despite this urgency, there is a notable gap in the market’s response, with institutions yet to take decisive action.

Recognizing this, our study aims to unravel the complexities surrounding TPRM. We seek to highlight the industry’s awareness of existing challenges while addressing the hesitancy in building successful BAU frameworks. Through this study, we aim to provide concise insights into the current state of TPRM, contributing to a better understanding of how institutions can navigate and strengthen their risk management strategies in the face of evolving challenges.

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