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Viewing Category: Risk Management

Setting a New Benchmark – New York State Cybersecurity Requirements

Published on April 17, 2017 By | Posted in: Best Practices, Business Resiliency, Compliance, Education, Framework, Newsletter, Outsourcing, Risk Management, Third Party Risk Management, Vendor Risk Managment

For financial services companies that fall under the New York State Department of Financial Services (DFS) cybersecurity requirements rule, the timeline for implementing 23 NYCRR500 has begun. The new rule became effective March 1st. Each section of the rule has a timeline relating to the development of cybersecurity programs for all “Covered Entities.” The regulation […]

The Shared Assessments Program 2017 Strategic Risk Management Initiative

Published on April 11, 2017 By | Posted in: Best Practices, Board's, Business Resiliency, Certified Third Party Risk Professional (CTPRP) program, Cybersecurity, Education, Framework, Outsourcing, Risk, Risk Management, Security, Third Party Risk, Third Party Risk Management, Vendor Risk Managment

The Shared Assessments Program is the only organization that has uniquely positioned and developed standardized resources for managing the complete third party relationship lifecycle. Such standardization is critical to the advancement of effective, secure third party controls and risk management in an otherwise fractured market. As part of our 2017 initiative, we’re formalizing the Shared […]

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 […]

Strengthening Third Party Risk Management with Agnostic Program Tools

Published on December 14, 2016 By | Posted in: Agreed Upon Procedures (AUP), Blog, Newsletter, Press Release, Program Tools, Risk Assessment, Risk Management, Shared Assessments, Standardized Information Gathering (SIG), Third Party Risk, Third Party Risk Management, Tone at the Top, Vendor Risk, Vendor Risk Management Maturity Model (VRMMM), Vendor Risk Managment, Vendor Security

Third party mishaps resulting in breaches and other newsworthy events continue to drive home the need for improved risk management program capabilities in all verticals. From planning for engagement, through due diligence and vendor selection, contract negotiations, ongoing and continuous monitoring and through termination, the Program Tools helps organizations effectively manage the critical components of […]

Updated for 2017: Tools Specifically Designed to Manage Third Party Risk

Published on November 29, 2016 By | Posted in: Agreed Upon Procedures (AUP), News, Press Release, Program Tools, Risk Assessment, Risk Management, Shared Assessments, Standardized Information Gathering (SIG), Third Party Risk, Third Party Risk Management, Vendor Risk, Vendor Risk Management Maturity Model (VRMMM), Vendor Risk Managment, Vendor Security

PRESS RELEASE Contact: Marya Roddis Vice President of Communications marya@santa-fe-group.com  505-466-6434 Updated for 2017: Tools Specifically Designed to Manage Third Party Risk Shared Assessments Program Tools Empower Risk Management Confidence Santa Fe, NM — November 29, 2016 — The Shared Assessments Program, the member-driven trusted source in third party risk assurance, announces the release of […]

Demonstrating the Increased Maturity of Third Party Risk Management Programs – 2016 Benchmark Study

Published on November 29, 2016 By | Posted in: Benchmark Study, Benchmark Study, Blog, Board's, Newsletter, Risk Management, Shared Assessments, Third Party Risk, Third Party Risk Management

The Shared Assessments Program and Protiviti, Inc., a Shared Assessments member organization, have completed the 2016 Vendor Risk Management Benchmark Study, the third annual study in this series. This year’s study shows, for the first time, that companies appear to have reached a positive turning point with regard to managing third party risks. Data from […]

Casting the Net for Third Party Risk

Published on July 26, 2016 By | Posted in: Agreed Upon Procedures (AUP), Blog, Program Tools, Regulatory Compliance, Risk Management, Shared Assessments, Third Party Risk, Third Party Risk Management

The summer of 2016 has been one of media challenges, and breaking records for heat waves across many states. Slow moving boats, relaxing fishing in normal idyllic mid-summer breaks have been swept aside by a flurry of activity within the sea of third party risk. This past week in Boston, the Shared Assessments Program Steering […]

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