Best Practices
Business Case Third-Party Risk Management (TPRM)
Business Case for Third-Party Risk Management (TPRM): A Starting Point For Senior Leadership
As part of our ongoing support to the larger, global community of third-party risk practitioners and programs, Shared Assessments and Third Party Risk Association (TPRA) have together prepared The Business Case for Third Party Risk Management (TPRM): A Starting Point for Senior Leadership.
At a time when many firms are planning and finalizing their annual budgets, our two organizations developed this basic guidance for senior executives and board members to encourage them either to launch new or to mature legacy third-party risk management programs in the coming year.
Working with hundreds of companies and thousands of risk professionals globally, our two membership organizations bring decades of collective experience with third party risk management, including what regulators and clients routinely expect from such programs.
We hope that our combined experience will help the vast and growing audience of TPRM professionals and programs gain or expand the leadership commitment and budgets they need to improve their ability to protect their firms, their clients, and the related assets they are working to safeguard.