A third-party risk assessment evaluates these potential risks, forming a critical component of any third-party risk management (TPRM) framework. The assessment provides the insights needed to design a program tailored to an organization’s unique risk profile, compliance obligations and industry standards.
Organizations may conduct these assessments internally or engage independent specialists. The process typically involves:
Global organizations increasingly depend on third parties to deliver operations with efficiency and scale. However, this reliance also exposes them to a broad spectrum of risks, positioning third parties as potential attack vectors against the enterprise itself.
The growing frequency of third-party incidents, combined with heightened regulatory scrutiny, has elevated Third-Party Risk Management (TPRM) into a strategic priority. Today, boards and senior leadership across industries view TPRM as a critical discipline to safeguard business continuity, compliance, and organizational reputation.
Fedstan GMC supports global and national enterprises in designing, implementing, and operationalizing comprehensive Enterprise Third-Party Risk Management (TPRM) programs. Each program is aligned with the client’s strategic priorities and is structured to deliver measurable outcomes, including:
Through this tailored approach, Fedstan GMC enables, organizations to build resilient, efficient and compliance-ready third-party ecosystems in below stated areas like opportunity, Area of Attention and Life-cycle phases.
Vendors, Associates, Joint Ventures, Suppliers, and service providers.
ESG Risk, Reputational Risk, Legal Risk, Operational Risk, Supply Chain Risk, Subcontractor Risk, Technology Risk, Cybersecurity Risk, Compliance Risk and Strategic Risk.
Vendor Selection, Due Diligence & Intake, Vendor Risk Assessment, Risk Scoring, Remediation Planning & Monitoring and Termination & Offboarding.