Reporting

Welcome to the Reporting Community. Here you will find the latest discussions and resources that can help you in this area. This area is dedicated to discussions around what to report on, how often and any other challenges related to third party risk reporting. Note: You will need to Sign In to join in the discussions and access resources. 

About Third Party Risk Reporting: Vendor management reporting to senior management and the board is a regulatory requirement. In fact, it’s a pillar of vendor management. You don’t want to be too specific or too general, so understanding the frequency, format and what to include in your reports is all important.

Latest Discussion Posts

  • We are currently going through a redesign of our report to the board. Board level KRIs include: 1. Number of critical vendors that have a residual risk higher than risk appetite. 2. Overdue issues and exceptions concerning critical vendors. There are ... More

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    Board Reporting

    What vendor metrics and/or updates does your team always provide to your board? Interested to learn what others are sharing as we're evaluating our bank's processes and determining what we should be focusing on in board reports. More

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    RE: Benchmarking

    Same here with my company. We are looking for data or a source we could utilize to assist us in detailing resource needs, FTE's, along with roles and structure to be able to present our business case for building out the Third Party Management progr ... More

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    Benchmarking

    This message was posted by a user wishing to remain anonymous Does anyone know of a good source for Vendor Management benchmark data? For example, I'd be looking for average cost savings, TCO, average engagement duration, etc. Basically, I am interested ... More

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    RE: Thirp Party Provider Reporting

    This message was posted by a user wishing to remain anonymous If context of your question was around, periodic update to Upper management - I would add, Volume of Supplier reviews completion status, against average time taken per supplier, risk ... More

ThinkTank Announcements

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    Hi Everyone, I want to share some very exciting news with you all. We have reached 1,000 community members! This is a milestone we’re very proud of and it’s all thanks to the fantastic third-party risk conversations you all are having every day. As always, please let me know if you have any thoughts ... More
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    Hi Everyone,   With the COVID-19 pandemic upon us, organizations are implementing their pandemic plans, many employees are working remotely and changes in vendor management are rapidly occurring. In the industry, it has raised lot of questions about pandemic planning and best practices and reminds ... More
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