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

  • ​Hello, we are just starting up TPVM by incorporating risk assessment into our VM Policy. We have not rolled out yet, but we do not include the value of the contract with the TP as a part of the assessment questions. Attached are the questions we have ... More

    1 person likes this.
  • This message was posted by a user wishing to remain anonymous what all should be included while creating a one pager for a particular critical vendor to make the discussion more meaning full both in terms of Quantitative aspects like Risk level, Spend, ... More

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    RE: Benchmarking

    Good Morning, Great question! I have a document that you may find useful. It provides an understanding of the value of a third-party risk management program and includes helpful data. If you're interested, please feel free to email community@thirdpartythinktank.com ... More

    1 person likes this.
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    RE: Board Reporting

    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

    1 person likes this.
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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

ThinkTank Announcements

  • Seeking Your Input - Annual TPRM Survey!

    Hi Community Members, We’re looking for your valuable input! Venminder is conducting their annual survey for the State of Third-Party Risk Management 2021 whitepaper and we’re hoping you may have 5 minutes to spare to help out and take the survey. The complimentary whitepaper will be released in early ... More
  • Community Update - 1,000 Members

    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
  • COVID-19 Resources Page

    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
  • Happy New Year - We Want Your Feedback!

    Happy New Year ThinkTank members! We hope you've found the community discussions this past year to be enlightening and engaging. As we head into 2020, we want to hear your thoughts and feedback as it'll help us continue to understand what you'd like to see more of in the Third Party ThinkTank Community. ... More

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