EY is a global leader in Third Party Risk Management (TPRM), providing a full suite of services to transform, implement and manage our clients’ TPRM programs. In today’s rapidly changing Transformative Age, organizations that need to do more with less are turning to third parties to stay competitive. However, third parties introduce a host of risks, including cyber, privacy, resiliency, digital, brand and regulatory. We believe that a successful TPRM program manages the risks of a third-party population and keeps up with the ever evolving technological and regulatory environment. Our TPRM offering is built on five key capabilities that enable better decision making:
We deliver a range of services that enable organizations to evaluate, enhance, strengthen and streamline their TPRM program. These services include helping organizations assess, benchmark, design and/or implement policies, procedures, risk models, governance frameworks and other foundational components.
Our global team delivers access to the latest public, proprietary and self-reported information. This enables clients, independently from direct third-party interaction, to identify and classify a variety of risk factors including cyber, privacy, information security, bribery, corruption, financial crime, reputational and ethical concerns.
We provide due diligence and investigation services in over 240 countries and 100 languages. We offer off-the-shelf and fully customized services for clients to evaluate, segment and understand both the risk landscape and the quality of controls in place at local, country, regional or global level.
We help organizations understand and implement tactical and strategic methods of managing and mitigating third-party risks in real-time and on an ongoing basis. These methods include continuous or periodic monitoring, threat monitoring and alert management processes to make the job of staying on top of risk easier to implement at a lower overall cost.
We leverage advanced analytics, robotic automation, advanced workflow and machine learning to simplify and streamline everyday tasks when managing effective third-party risk management programs. Our innovation and capability roadmaps are constantly evolving to bring market-leading capabilities to our clients through our EY delivered technology assets.
Read our latest articles for insights on managing your third-party ecosystem and TPRM program.
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- Data breaches and cybersecurtity: managing third-party risk
- If you’re concentrating third parties, are you accumulating risk?
- After a crisis few saw coming, should you view risk in a new light?
To learn more visit www.ey.com/tprm.