Aravo’s eBook Meeting the Expectations of the Board: Accelerating vendor and third party program maturity to enhance governance and oversight is a useful tool for boards AND for third party risk professionals seeking to educate their boards about why TPRM is so important for the organization, and why investment is important.

It provides a very useful benchmarking maturity model, and covers:

  • Why boards are prioritizing third party risk management
  • Why third party risk is such a unique challenge for boards and their organizations
  • What a good governance framework looks like                                                   
  • Third Party Governance best practices:
    • Comprehensive governance structure
    • Clearly defined roles and responsibilities
    • Regular third party review meetings                              
    • Cohesion across three lines of defense
    • Third party risk appetite and thresholds well defined and understood
    • Segmentation reviewed annually
    • Issue escalation rarely needed
    • Issues resolved quickly/effectively
    • Integrated enterprise TPRM IT solutions in place
    • Third party relationship review maximized
    • Industry best practices embraced
    • Utilities and standardization
    • Enterprise view of risk, performance and compliance
  • How the board can help embed third party risk governance

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Related Content:

White Paper The Business Case For Better Third Party Risk Management - Better business outcomes through good governance

White Paper - Buyers Guide to Third Party Risk Management

White Paper - Third Party Risk Management in the Dynamic of Business Scale, Complexity, and Change

Webinar Vendor & Third Party Risk - Expectations of the board and how to develop your third party program maturity to support oversight

Request A Demo of Aravo Third Party Risk Management Solutions