Blogpost

Third Party Risk Management

2023: Risk Management Wrapped

This blogpost is a celebration of the risk management moments that have defined our year. Shared Assessments’ community participation contributes significantly to being the trusted source in Third Party Risk Management. We are thankful that you have been here with us to share in peer-to-peer connection, conversation, and collaboration. Read on for details on Shared Assessments highlights in 2023 and learn what lies ahead for our community in 2024.

2023 Products

Product2023

This fall, we released the 2024 Third Party Risk Management Product Family which includes added Artificial Intelligence (AI) and Supply Chain Risk Management (SCRM) risk domains, updated regulatory mappings, improved features and functionalities.

We launched our solution for determining inherent risk and preparing for due diligence: Third Party Services Inherent Risk Rating (TPSIRR). The TPSIRR aids practitioners in identifying which SIG (Lite, Core, Full) to use in their due diligence.

We brought our Environmental Social and Governance (ESG) SIG into being. The ESG SIG gives insight into how third parties are managing ESG Risks by allowing for ESG-focused due diligence on services and vendors.

Product

2023 Education

education2023This year, we launched On-Demand Continuing Professional Education Credits (CPEs) on our website. As a result, we issued a record 8,000+ CPEs to the Third-Party Risk Management Community. (We issue CPEs after most of our live events, Summit and all of our certification courses, too.)

We saw 310 professionals gain their new CTPRP and/or CTPRA certifications. In total, we trained 688 TPRM professionals.

Finally, our SIG Fundamentals training was named Gold Winner for the Best Customer Training Program and Best Certification Program in the Brandon Hall Group Awards. (SIG Fundamentals is a self-paced training that reviews the basics of the SIG Questionnaire.)

Education

 

2023 Gatherings 

committees2023

 

In 2023, our Committee Community grew by leaps and bounds – 101% to be exact! We had 2000 attendees from across the world join 80 committee meetings. Our 11 Committees are avenues for both members and non-members to address global challenges in third-party risk management.

 

Committees

webinars2023

 

We gathered a virtual crowd of 12,000+ registrants and attendees over the 21 webinars we hosted in 2023. Our 2023 Summit bustled with warmth and networking in-person in Orlando, Florida ….and we look forward to being back in the sunshine this spring for Summit 2024 (March 20-21, 2024 | The Westin Fort Lauderdale Beach Resort).

Events

 

2023 Memberships and Partnerships

membership2023In 2023, our member community gained free access to the Whistic Platform. Our members (and subscribers!) can now instantly review the security postures of vendors on-demand without requesting a questionnaire. Remember…this offer ends December 31, 2023.

The Shared Assessments community also welcomed Viso Trust, Upguard, and Protecht as licensees of our Standardized Information Gathering Questionnaire.

General

 

2023 Papers and Studies

 We noted 4,500+ readers of our Papers, Studies, Framework, and other online resources in 2023.  New resources for your perusal in 2023 include:

Third Party Focused Ransomware Strategy

Partnering With Procurement – Part 1: Supplier/Vendor Lifecycle

Partnering With Procurement – Part 2: Supplier/Vendor Contracts

Framework for Managing Third Party Reputation Risk

Benchmark Survey Report: A New Baseline – Executive Summary

The full Benchmark Survey Report: A New Baseline is now included with the VRMMM product subscriptions. This study improves understanding of relative maturity levels of TPRM practices across a range of industries and documents steps organizations are taking to improve their TPRM processes.

In Closing….

May you end this year surrounded by excellent TPRM friends, exceptional platforms and products for managing risk, and sugar-plum sweet memories of Shared Assessments in 2023. We hope to see you in-person at Summit 2024. If we don’t meet there, then here’s to seeing you in our committee meetings or on our Job Board and User Forum very soon!