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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    Proposed Guidance and how to rate Inherent Likelihood

    By: AJ Galusha , 8 days ago

    Hello all, I am hoping we can share insights and perspectives on the likelihood component of a vendor's inherent risk rating in the proposed guidance. My board policy is due, so my CRO wants it written with the new guidance and implemented for 2027. ... More

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    See how your TPRM program stacks up against your peers

    By: Ncontracts LLC , 8 days ago

    Hi everyone, The State of TPRM survey is open, and we'd love to have your voice in it. Whether you run a vendor management program solo or lead a team of ten, your experience helps paint an accurate picture of how third-party risk is being managed across ... More

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    RE: Ongoing Risk Assessments

    By: Lauren Sobczak , 6 months 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

    1 person likes this.
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    Ongoing Risk Assessments

    By: Tracy Quick , 6 months ago

    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 , 11 months ago

    I am interested in this approach as well. More

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