"Implemented correctly, the Shared Assessments Program serves two critical purposes: satisfying requisite regulatory requirements, and, honoring one's fiduciary responsibility to maximize the overall cost efficiency of their third-party vendor risk management program."
— Ken Peterson, President and CEO, Churchill & Harriman, Inc., Shared Assessments Program Advisory Board Member
Participate in a global community of information security, privacy, and third party risk management leaders
Gain access to members-only resources and the Shared Assessments Program Tools, including the SIG and AUP
Develop and demonstrate knowledge with industry peers on challenging issues in information and data security, privacy and business continuity
Gain opportunities to build, shape and refine vendor risk management tools and best practices
Network with information security officers, privacy officers, and other subject matter experts
Just the Tools
Purchase our ready-to-use Tools to develop and manage your third party vendor assurance program.
Learn more about purchasing the world’s most comprehensive third party risk management tools
The world’s most comprehensive third party risk management tools
"Shared Assessments Program tools allow enterprise organizations to evaluate and measure the level of IT risk across their vendors in an quantifiable, objective and repeatable process."
— Niall Browne, CSO and VP of Security, Workday
Obtain efficiencies and cost savings by using just one document to establish and define your risk control environment
Reduce FTE costs by using one document to satisfy multiple client requests, rather than responding to multiple proprietary questionnaires
Used globally by financial institutions, healthcare organizations, energy/utility, retailers, telecommunications and others
Shared Assessments Program Tools kept current with regulatory and industry standards
"The Shared Assessments Program’s rigorous standards are equal to or better than all other standards. We are very satisfied with the acceptance by our clients."
— Timothy J. O’Brien, Senior Vice President, Yodlee
This week the U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System announced the publication of the G-7 Fundamental
Building Best Practices in Third Party Risk Management: Involving Procurement White Paper
Establishing a strong standard for risk management means including all stakeholders before a third party is brought on board. With the right tools and framework, the Procurement function can work closely, efficiently and effectively with all areas of an organization to help provide partners and regulators with a level of assurance that third parties are appropriately vetted and monitored throughout the life of the relationship. Procurement can also help facilitate a centralized process that is designed to mitigate many of the risks associated with these relationships and should therefore be seen as a critical function that organizations can leverage for more than just achieving cost savings.
The paper focuses on ways to effectively integrate Procurement into the third party oversight function.
Tone at the Top and Third Party Risk examines the role of executives in third party risk management in a broad range of industries and the effect of tone at the top on minimizing business risks within organizations. This study is sponsored by Shared Assessments and conducted by the Ponemon Institute.
Key findings indicate that third party vendor risk is not being effectively implemented:
Only 26% of respondents believe that their organization’s third party risk assessment of controls is effective.
50% of respondents do not believe the risk management process is aligned with their organization’s business goals.
Just 11% say their organizations are very effective at communicating values throughout the enterprise or to business partners, vendors and other third parties.
The increased connectivity and complexity of critical infrastructure systems both nationally and globally puts economic and public security squarely at the forefront of risk management in every sector and industry vertical. A proactive stance is clearly required to establish best practices for more mature risk management programs industry-wide.
The financial services industry is in position to continue its leadership role in third party risk management, in order to improve the quality and efficiency of risk management programs at both the outsourcer and provider levels to collectively raise the bar and establish effective industry-wide risk management solutions.
In 2015, a Shared Assessments awareness committee was established to create a best practice assessment and scoping guideline practical for all outsourcing organizations, onsite assessment teams, managers and service providers, regardless of industry or assessment scope. The guideline will work in concert with existing onsite assessment tools and processes. It provides a clear, consistent methodology to keep the assessment process on target and therefore reduce duplication of effort and assessment fatigue.
Consensus is quickly growing that an effective risk culture cannot be developed without a “Tone at the Top” that demonstrates, beyond doubt, that the Board and C-Suite are active in building and maintaining an effective enterprise risk management culture and program, inclusive of third party risk issues. The right Tone at the Top and risk culture can become important drivers of improved organizational performance – companies that incorporate risk management into their strategic planning process and operating model gain clear competitive advantage
The Shared Assessments Program is pleased to announce our briefing paper, Building Best Practices for Effective Monitoring of a Third Party’s Incident Event Management Program.
To help organizations be better prepared against increasingly inevitable incidents, the Shared Assessments Program SIG Committee has released Building Best Practices for Effective Monitoring of a Third Party’s Incident Event Management Program. The paper outlines a newly developed best practices model of incident event management program creation.
The Shared Assessments Program is pleased to present a case study based on our first in a series of pilots for our Collaborative Onsite Assessment program.
The goal of this pilot program is to create the opportunity for multiple industry outsourcers to perform a collaborative onsite assessment of a single service provider, performed by an independent assessment firm, leveraging the Shared Assessments Agreed Upon Procedures (AUP), the standardized testing procedures of the Shared Assessments Program, as a common onsite assessment vehicle. The case study outlines the methodology used and the results of this first pilot.
SIG & AUP Beginner Pre-Conference Workshop(s) June 27:
Pre-Conference Workshop(s) June 28:
Shared Assessments Summit (full day session) June 29
Shared Assessments Summit (full day session) June 30
CTPRP Certification Workshop & Exam
Registration will open soon. Check back periodically for updates.
2018 Shared Assessments Summit Dates
April 9-13, 2018
Ritz Carlton Pentagon City
2016 Program Tools
Our 2016 Shared Assessment Program Tools deliver comprehensive assessment of IT, privacy and data security controls to manage threats.