Authorities on Risk Assurance

The Shared Assessments Blog

Viewing Category: Outsourcing

Setting Expectations for Your Third Parties

Published on March 14, 2017 By | Posted in: Best Practices, Business Resiliency, Education, Newsletter, Outsourcing, Risk, Risk Management, Security, Third Party Risk, Third Party Risk Management, Vendor Risk Managment

Risk Rating During On-Boarding Including third party risk rating as a strategic part of a robust risk management program provides the opportunity for early identification of the wide range of issues that ripple through both regulated and unregulated industries wherever outsourcing is present. Scoring third parties consistently was ranked as the most challenging issue in […]

Employing Lines of Defense – Risk Management That’s Not Just for Banks

Published on February 23, 2017 By | Posted in: Best Practices, Business Resiliency, Education, Framework, Newsletter, Outsourcing, Risk, Risk Management, Third Party Risk Management, Vendor Risk Managment

Key Best Practices Messages Robust risk governance principles are espoused in guidelines worldwide for Enterprise Risk Management (ERM) from organizations that vary from oversight agencies to industry support groups. Just for example, the International Association of Privacy Professionals (IAPP), Financial Stability Board (FSB), Committee of Sponsoring Organizations of the Treadway Commission (COSO), the Basel Committee […]

Building Your TPRM Program – Part 1: Four Foundational Steps to Build Your Third Party Risk Management Program On

Published on February 3, 2017 By | Posted in: Best Practices, Business Resiliency, Certified Third Party Risk Professional (CTPRP) program, Education, Framework, Outsourcing, Risk Management, Vendor Risk Managment

Build Your Third Party Risk Management Program

Building Your TPRM Program

Published on January 25, 2017 By | Posted in: Best Practices, Business Resiliency, Education, Outsourcing, Risk Management, Third Party Risk Management, Vendor Risk Managment

PwC’s report highlighting monitoring of vendor networks by means of supply chain risk analytics focuses on the fact that the volume and transactions of outsourcing amplify risk. “The increasing severity of consequences for regulatory violations by vendors in complex global supply chains is matched only by the corresponding damage to reputation when vendor network violations […]

The SIG – The Swiss Army Knife of Risk Assessment

Published on September 3, 2013 By | Posted in: On-site Assessment, Outsourcing, Vendor Assessment

In 2005, the Shared Assessments program was born to serve the financial services industry and its major service providers. The intent was to achieve economies of scale by sharing the expense and time in conducting on-site assessments.  A group representing six major banks and the Big Four accounting firms met to draft an on-site assessment […]

The NSA, Snowden and Third-Party Risk: Preliminary Lessons Learned

Published on August 5, 2013 By | Posted in: Information Security, Outsourcing, Third Party Risk, Vendor Security

Remember this: Edward Snowden Worked for a Third-Party Vendor. While it remains uncertain what exactly Mr. Snowden shared with other nations, we do know this: he wasn’t authorized to disclose classified information. Some may believe he is a hero, others believe he is a villain. It is clear, though, that his employer, consulting firm Booz […]

Risk Management: Establishing a Positive Culture of Opportunity

Published on June 19, 2013 By | Posted in: Outsourcing

As companies strive to strengthen their organizations through the outsourcing of products and services, close attention must also be paid to the additional risk implications of these practices. One issue emblematic of these additional risks is the increasingly common practice of subcontracting by outsourced vendors, which creates the opportunity for vastly increased risks, especially with […]

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