Risk Assessments

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Welcome to the Risk Assessments Community. Here you will find the latest discussions and resources that can help you in this area. Use this community to discuss anything about doing vendor risk assessments. Note: You will need to Sign In to join in the discussions and access resources. 

About Third-Party Risk Assessments: The risk assessment process is a fundamental foundation of a well-managed third-party risk program. A disciplined approach and repeatable process can lay a firm basis for better informed due diligence, structured ongoing monitoring, and meaningful impact in mitigating concerns introduced by your organization's third parties. Taking it a step further, understanding how to mitigate inherent vendor risk is crucial to determining if the benefits of the outsourced product or service outweigh the risk posed.

Latest Discussion Posts

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    RE: Ongoing Risk Assessments

    By: Lauren Sobczak , 15 hours ago

    Hi, we do assessments based on the inherent risk rating of High every year, medium every 2 years and low every 3 years. The category managers are responsible for going in an initiating the assessment. I like to provide my category managers a risk assessment ... More

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    Ongoing Risk Assessments

    By: Tracy Quick , yesterday

    How are you all doing your ongoing Risk Assessments within Venminder? Are you just having product managers go in and do new Risk Assessments every year/two years/etc. based on the risk rating? We are wanting to implement ongoing reviews, but we have a ... More

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    RE: Risk Assessment Weightings

    By: Isabella Dorsey , SAFE Federal Credit Union , 5 months ago

    I am interested in this approach as well. More

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    RE: Risk Assessment Weightings

    By: Hannah Gulan , 5 months ago

    Hi all, in efforts to keep your personal/professional emails confidential, please consider using the messaging function within Third Party ThinkTank. More

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    RE: Risk Assessment Weightings

    By: Erica Wise , 5 months ago

    I am interested in this approach as well, please let me know if you can share some question templates to fully understand the approach. More

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