Third Party Risk Management (TPRM)​

Third party risk management is very important because its failure leads to data breach and reputational damage.

Establishing an effective third party risk management throughout the lifecycle - from onboarding to offboarding - is essential to ensure compliance. It needs a strategic approach and its process can be complex: it is becoming increasingly resource-intensive and extremely challenging to be done manually.

Key Functionalities

Sirighi’s Third Party Risk Management solution helps to:

-  Keep all third parties inventories in one place.

-  Automate the onboarding process.

-  Record all risks.

-  Assign risk score and perform risk aggregation.

-  Keep track of the recertification process.

-  Send automated email alerts.

-  Monitor and report third party’s risk and critical metrics.

Benefits

With our application firms can:

-  Ensure both reputation and quality of services are not damaged.

-  Help to address future risks in less time, using fewer resources and at a significantly reduced cost.

-  Generate reports that provide a complete overview of risks associated with third parties.

-  Drive operational and financial efficiencies.