Here's your chance to be the voice of the TPRM community & accelerate the success of TPRM start-up organizations!
Submit an application to be considered as one of the few select practitioners to attend 1:1 meetings with start-up organizations. These select practitioners will provide critical feedback to start-up organizations on their new products/services. This exchange may also provide you with the opportunity to become a beta tester for select start-ups, allowing you to test out new tools and services at a reduced or free rate. An application is required and not all practitioners will be selected.
To be considered, please complete the application below!
No Formal or Informal TPRM Program
At this level, there is a complete absence of any formal or informal Third-Party Risk Management (TPRM) program within the organization. There are no strategies, policies, procedures, or structures in place to address third-party risks. The organization may be unaware of the potential risks posed by third-party relationships or may not prioritize them.
In the Establish Phase, the organization recognizes the need for a TPRM program and begins to lay the foundation informally. This phase is characterized by ad hoc efforts to understand third-party risks and establish basic strategies and objectives for the program. Although there is awareness of the importance of managing third-party risks, the program lacks formal structures and relies on informal processes.
During the Definition Phase, the organization formalizes its TPRM efforts by developing processes, policies, and procedures. While activities may still be somewhat ad hoc, there is a deliberate effort to create more structure within the program. This includes defining roles and responsibilities, establishing governance frameworks, and clarifying the objectives of the program. However, the program is still evolving, and there may be inconsistencies in how TPRM is implemented across the organization.
In the Implementation Phase, the organization has fully defined and approved policies and procedures for managing third-party risks. There is a clear governance structure in place, with defined roles and responsibilities for managing third-party relationships. While many aspects of the program are operational, some activities, such as reporting and metrics, may still be in the process of being fully implemented. Overall, the organization is actively working to embed TPRM practices into its operations.
At the Repeatable Phase, the organization has established a fully defined and repeatable TPRM program. The program is well-integrated into the organization's operations and has proven effective in managing third-party risks. Efforts are focused on scaling the program to meet the organization's evolving needs, including expanding coverage to additional third-party relationships and enhancing efficiency through automation and standardized processes.
In the Optimization Phase, the organization has achieved a high level of maturity in its TPRM program. There is a culture of continuous improvement, with a focus on optimizing processes, incorporating emerging risks, and leveraging technology to enhance efficiency and effectiveness. The organization actively monitors and adapts to changes in the third-party landscape, staying ahead of potential risks and ensuring that the TPRM program remains robust and resilient.