NIST, ISO, SIG: Which TPRM framework should you choose?

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Setting up a third-party risk management (TPRM) program is a complex process involving managing hundreds or thousands of vendors across multiple continents and legal jurisdictions.

Enterprise risk is steadily becoming a key issue for heavily regulated industries, from financial services to healthcare to retail and beyond. In the healthcare sector, for example, the average hospital relies on more than 1,300 external vendors and faces an increasingly complex challenge in assessing and monitoring third-party risk. Meanwhile, the use of third parties to deliver critical services was identified as a top-three critical operational risk for the financial services industry.

As more third-party events become known and more prominent, it’s essential to use the correct baselines and metrics. Applying a framework can help dissect and define the level of risk and segment that sufficiently to react and respond in a meaningful and proportionate way.

But while there’s no single standard to harmonize requirements, some commonly used compliance frameworks can serve as a solid starting point. So, which ones are best for you?

Join compliance experts Alastair Parr and Thomas Humphreys as they guide you through what you need to know about TPRM compliance frameworks and how to effectively use them to reduce risks to both your organization and customers.

The objectives of this webinar are to:

• Define common TPRM frameworks and how to use them to build a program blueprint
• Guide you through selecting the right TPRM framework, since no single framework is likely to provide your organization with every tool
• Examine how to utilize commonly used frameworks such as NIST, SIG, and ISO
• Identify the impact on your third-party landscape and how the right frameworks can streamline your TPRM program

Register for this webinar to gain a thorough understanding of TPRM frameworks and how to determine the best one to manage your organization’s risk.

Speaker:
Thomas Humphreys, Content Manager, R&D Development - Prevalent