Relying heavily on third-party suppliers and partners can drive growth and innovation. While these relationships offer significant advantages, they also introduce a multitude of risks that can jeopardise an organisation’s financial stability, reputation, and regulatory compliance. To navigate these challenges effectively, a robust Third-Party Risk Management (TPRM) function is essential.
We are excited to announce the release of our comprehensive e-book, “Organisational Structures & Capabilities: The Right People with the Right Skills in the Right Place”. This guide is designed to provide organisations with the insights and tools needed to build and sustain a powerful TPRM function.
What You’ll Learn:
- Understanding TPRM:
- Grasp what a TPRM function is and why it is crucial for managing risks associated with third-party relationships.
- TPRM Function Mission:
- Learn about the core mission of TPRM, including managing third parties, driving vendor management best practices, and reducing third-party risk exposure.
- Responsibilities of a Third-Party Risk Manager:
- Discover the key responsibilities that encompass oversight and management, process development, advisory roles, collaboration, risk mitigation, and compliance enhancement.
- Essential Capabilities and Skills:
- Identify the multidisciplinary skills and expertise required to build an effective TPRM function, from risk management and compliance to cybersecurity and financial analysis.
- Optimal Team Structure:
- Explore the benefits and challenges of centralised, decentralised, and hybrid operating models for TPRM, and understand how to achieve the right balance for your organisation.
- Implementation Approach:
- Gain insights on starting small, executing at pace, and growing your TPRM function in line with vendor onboarding priorities.
Why This E-Book is a Must-Read:
Effective third-party risk management is no longer a luxury; it’s a necessity. This e-book provides a detailed roadmap for organisations to establish a robust TPRM function, ensuring that they are well-equipped to manage third-party risks proactively and efficiently. Whether you are just starting out or looking to enhance your existing TPRM practices, this guide offers valuable strategies and practical advice to help you succeed.
Don’t leave your organisation’s fate to chance. Equip yourself with the knowledge and tools to build a resilient TPRM function and safeguard your business against the myriad risks posed by third-party relationships.
Take the first step towards mastering third-party risk management
About the Author
Nick Francis, Chief Technology and Marketing Officer at Brooklyn Solutions
Nick Francis is a well-established and experienced CxO delivering Digital & Security-focused Transformation through the design, build, and deployment of cost-effective, highly automated industry-leading solutions. Nick has experience working across the private and public sectors in industries such as Financial Services, Insurance, Legal, Utilities, Retail, Public Sector and Government. Specialised in transformation activity to optimise processes, operational expenditure, and increase productivity. Significant experience in compliance, risk & control activities in highly regulated industries, standardisation of technologies, streamlining of internal processes and continuous improvement driving consistency and efficiency across an organisation whilst holding Customer, Colleague and Partner experience at a premium.