Solutions
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 recognized 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
Streamline your third party risk management with our managed service
Screening & background checks
How well do you know your third parties? And what about their ownership structure?
Through advanced analytics, artificial intelligence and experienced researchers, we examine data from a range of online and proprietary data sources so that you know the risk associated with companies, key individuals and ultimate beneficial owners that your firm is working with.
Third party questionnaires
Tired of chasing up on unanswered emails for risk assessments?
We’ll manage the collection of data from each third party, everything from control policies and processes to sustainability or diversity and inclusion practices. We empower you with a customizable scoring framework to support you in responding changes and meeting your regulatory commitments.
Remote & on-site inspections
Do you need further assurance that your third-parties are managing risk to your expectations?
Our experienced risk professionals conduct thorough remote and on-site inspections to build upon responses to third party questionnaires and give you the transparency you need to make the best decisions for your business.
Monitoring
Having trouble keeping abreast of emerging issues and changing risk profiles?
Our risk practitioners perform ongoing analysis using data analytics and Artificial Intelligence to identify emerging or new issues regarding the third party portfolio.
Remediation
Are you finding it difficult to record and manage the rectification tasks that result from risk assessments and inspections?
We track remediation activities to completion, managing the end-to-end process and escalating items as required.
Launch your Third party Risk Management program in 30 days
Need a tactical third party risk assessment solution in place quickly? This package is a short-term commitment that empowers
businesses to take insightful action to reduce third party risk, without a complex implementation.
If you want to accelerate onboarding and access assessment results rapidly, we can set up your end-to-end service in weeks. This entry-level solution provides automated background screenings, third party questionnaires across a variety of risk areas, remote assessments and real-time monitoring of third-parties.
Our proven track record in third party risk management
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-optimized 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.