Best practice third party risk management covering:
Due Diligence and Assurance
Governance and Frameworks
Compliance and Remediation
How we help you
We help organisations across industry sectors to identify assess and manage Third Party and Vendor risk, so you can:
meet your legal and regulatory obligations and
We build solutions that are efficient, scalable and pragmatic.
We do this using a variety of proprietary risk management tools and techniques and leveraging some of the leading market products.
Risk assessments and assurance
Strategy and roadmap
- We help organisations develop their overall Third Party Strategy and Roadmap by:
- defining priorities,
- outlining the governance framework,
- designing the target operating model,
- and defining the programme of initiatives to develop organisation capability.
- Build the business case for change and investment: we help organisations assess their overall value at risk, determine an appropriate response and the level of resource they will deploy to mitigate risk.
Framework design and implementations
- We build entire risk management frameworks:
- running implementation programmes,
- establishing governance,
- and defining policies and procedures.
- Or improve components of existing frameworks: for example, we design and implement Supplier Assurance programmes, and update policies, procedures and standards to meet new regulatory requirements (e.g. EU GDPR 2018, EBA Outsourcing Guidelines 2019).
- 3VRM performs diagnostic assessments and reviews to help identify areas to improve an organisation’s Third Party and Vendor risk management approach.
- We help organisations prioritise activities and resources to maximise the return on any investments.
Risk assessments and assurance
- 3VRM performs Third Party Risk Assessments as a service. Organisations use us to undertake initial supplier criticality assessments and then perform remote and on-site assessments of supplier controls.
- We use expert practitioners and the latest tools to maximise value from any assessment work performed
- Expert resource to help augment existing capability or provide additional capacity is part of our winning approach.
- We have expertise across the Procurement and Third Party Management life cycle, as well as technical domains such as Cyber and Information Security, Resilience, Data Privacy and Regulatory Compliance.
- We can help design responses to issues and problems by delivering targeted solutions that enhance or address specific areas within the overall risk management framework.
- We can lead, run or support remediation projects to defined targets and outcomes .
Training and capability development
- 3VRM runs global training and communication programmes, developing capability and raising awareness.
Technology selection and implementation
- We help clients to identify specific risk management tools, products or services that improve their e2e risk management process.
- With us you can maximise value from any investment in supporting technology, adapting business processes to leverage available technology and maximise quality, automation and efficiency opportunities