GRC SOLUTIONS

THIRD PARTY RISK MANAGEMENT

What is Third Party Risk Management?

An integrated, efficient, and scalable third party risk management program for your entire organization with HighBond’s Third Party Risk Management.

How can Third Party Risk Management help me?

As the trend to focus on high growth and fostering efficiency continues, organizations increasingly rely on outsourcing operations to third parties. Consequently, the size and complexity of third-party risk management programs are increasing. This makes it difficult to proactively address risks and effectively and efficiently ensure regulatory and contractual compliance.

TAKE CHARGE OF YOUR THIRD-PARTY RISK MANAGEMENT PROGRAM

Easily assess, manage and monitor the risk posed by all third parties associated with your organization. Reduce the risk of errors, prevent data duplication, and save time by working from a unified platform. Quickly identify and prioritize risky third parties to prevent costly data breaches. Bring visibility into third-party risks with out-of-the-box storyboard visualizations and reports.

Quickly import or integrate with security, financial, or firmographic intelligence providers to reduce manual administration. Onboard new suppliers safely and easily through data and process automation. Use deep data insights and real-time reporting to enable effortless decision-making and executive visibility with advanced analytics capabilities

Benefits of Third Party Risk Management?

Diligent’s Third Party Risk Management Solution Manages Risk Differently

Most third-party management implementations crash or fail because they are too ambitious to start with—or too rigid to adapt to change.

HighBond’s Third Party Risk Management is designed to easily adapt to changes and program maturation over time. As you adjust to changing business, regulatory, and risk landscapes; Third Party Risk Management allows you to remove complexity and easily evolve on the fly, without the limitations of fixed source software.

Use Third Party Risk Management to:

Manage all third parties on a centralized platform
Deploy third-party risk assessment questionnaires with ease
Reduce time to hire new third parties, with fast and efficient third party screening processes
Track risks and strategically prioritize remediation efforts to efficiently reduce the highest priority risks across all third parties
Gain visibility into third-party risks with out-of-the-box storyboard visualizations and reports

Main features:

Third Party Centralized Inventory
Bulk third-party import
End-to-end third-party assessment management
Risk-Based Control Assessments
Pre-designed questionnaires according to industry standards (SIG Lite and CAIQ Lite)
Integration of third-party financial and security intelligence providers
Generation of reports of key performance indicators (KPI) and risks (KRI) of third parties
Service level agreement performance monitoring
Contract management