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State of Third-Party Risk Management 2023

By Venminder
February 3, 2023

Take an in-depth look at how your peers are managing third-party risk today. This whitepaper covers current vendor risk focus, practices, challenges, compliance incentives, trends, benefits, and recommendations based off an industry-wide survey, including credit unions, and analyzed results.

Third-party risk management is constantly evolving, so the way you identify, assess, manage, and monitor vendor risk should evolve too. Use this comprehensive data as a benchmark and to help you further improve your credit union's third-party risk management program this year.

Download the whitepaper to learn statistics on:

  • Which department TPRM sits
  • Program resources
  • How many vendors organizations manage
  • TPRM models teams use to organize the efforts
  • Inherent and residual risk assessments
  • Questionnaires and documentation requirements for due diligence
  • Metrics to measure TPRM success
  • Regulatory focus and pressures
  • Emerging third-party risks (i.e., cybersecurity, supply chain, ESG, vendor diversity)
  • Top TPRM challenges
  • Third-party risk management training and education • Outsourcing TPRM • Return on investment from TPRM
  • And more!

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About Venminder

Venminder is an innovative, customer-motivated company that is mission-driven to help solve the many challenges organizations face when managing risks from outsourcing to third parties.

Venminder provides a dedicated platform to empower effective end-to-end lifecycle management and mitigation of third-party risks. Venminder creates long-term collaborative partnerships with their customers, providing implementation assistance, product and best practices training, ongoing support, access to expertise and more.