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!
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.