Third Party Risk Management

Sanitized example of a TPRM program build for a regulated mid-market organization. The work included vendor inventory and tiering, risk scoring model design, assessment execution, and a full lifecycle workflow from onboarding through issue management.

View Sample Artifacts Discuss a Similar Project

Vendors inventoried and tiered

Tier 1 critical vendor assessments

Lifecycle phases designed

Vendors assessed for first time

Project Overview

This example demonstrates a full TPRM program built from a near-zero baseline. Prior to the engagement, no formal vendor tiering, assessment process, or issue management workflow existed. All components were designed, socialized with business stakeholders, and operationalized during the engagement.

Inventoried and tiered 47 vendors across technology, financial services, and professional categories.
Designed a risk scoring questionnaire and tiering methodology calibrated to regulatory requirements.
Completed Tier 1 assessments for 9 critical vendors; identified 6 open issues requiring remediation.
Built a 90-day program standup roadmap through full lifecycle operationalization.

What this demonstrates

Program architecture: Designing a TPRM lifecycle that scales — from intake and scoring through ongoing monitoring and offboarding.

Risk tiering: Calibrating vendor risk tiers to actual business and regulatory exposure, not just contract value.

Stakeholder engagement: Aligning business owners on vendor risk responsibilities without creating friction in procurement.

Issue management: Building a remediation workflow that drives accountability and tracks risk reduction over time.

Sample Artifacts

Interactive, sanitized deliverable previews — tailored to this engagement type.

Vendors in scope

Across all tiers

Tier 1 vendors

Critical / high risk

Assessments overdue

No assessment on file

Open issues

Requiring remediation

Leadership message: Fourteen vendors with data access or operational dependencies have no current assessment on file. Concentration risk is elevated in cloud infrastructure and payment processing. Immediate focus should be on Tier 1 assessment completion and SLA validation.

Phases built

Full lifecycle coverage

Avg. maturity

2.2

Developing — pre-engagement

Target maturity

3.5

Managed by end of program

Program note: The TPRM lifecycle was built from scratch during this engagement. Prior state had no formal onboarding process, no tiered risk scoring, and no issue management workflow. All four phases were designed, documented, and socialized with business stakeholders.

Days 1–30 · Foundation

Finalize vendor inventory and tiering

Build risk scoring questionnaire

Define SLA and contractual baseline requirements

Days 31–60 · Assess

Complete Tier 1 vendor assessments (9 vendors)

Launch issue tracking workflow

Configure continuous monitoring alerts

Days 61–90 · Operationalize

Begin Tier 2 assessment cycle

Publish vendor risk dashboard for leadership

Document TPRM program charter and policy