The aim of this research is to better understand where third party risk management is positioned within an organization, and to what extent the associated risks are managed and assessed. By understanding organizational structures and level of oversight, correlations can be drawn to identify effective practices and ways to optimize processes and improve overall management of third-party and operational risk.
Key questions include:
- What department(s) are tasked with assessing any third-parties your organization works with?
- How is your organization positioned and equipped to identify and mitigate risk?
- What controls is your organization prepared to implement in the case that a third-party has a compromising incident?
- How is technology used within your organization to optimize your third-party risk management program?
The research and survey looks to provide insight across the industry and identify success factors from peers to benchmark and understand progress and review optimization strategies.