A capability is anything an organization does well that drives meaningful business results. Capabilities drive up resilience and drive down risk.
We perform capabilities and maturity assessments to understand how an organization’s Third-Party Risk Management program stacks up next to comparable organizations against leading practices as well as help to identify bottlenecks and target areas of improvement. The assessment process evaluates an organization’s level of maturity for critical components of a TPRM program and quantitatively scores that level of maturity. Ultimately, this assessment helps organizations develop and/or mature a centralized governance model and provides the tools to maintain it and continuously improve it. The following are examples of areas to benchmark and assess maturity:
Built by our tenured team of security, risk and compliance practitioners. We have leveraged decades of diverse subject-matter expertise and experience to be able to provide the following resources and tools:
The Schneider Downs Risk Advisory Services team has the expertise, credentials and tools to help you build, implement, recalibrate, and manage a world-class third-party risk management program. We understand that outsourcing business functions to third parties is essential in today’s business environment. While outsourcing provides benefits such as increased efficiency and cost savings, it also increases an organization’s risk exposure to a myriad of threats presented by outsourcing. Understanding how to identify and manage the risks presented by third party providers is vital for any business.
For more information visit www.schneiderdowns.com/tprm or contact us to get started.
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Schneider Downs is a Top 60 independent Certified Public Accounting (CPA) firm providing accounting, tax, audit and consulting services to public and private companies, not-for-profit organizations and global companies. We also offer risk advisory, transaction advisory, digital consulting, wealth management, retirement plan solutions and investment banking services. Schneider Downs serves individuals and companies in Pennsylvania (PA), Ohio (OH), West Virginia (WV), New York (NY), Maryland (MD), metropolitan Washington (DC) and additional states in the United States with offices in Pittsburgh, PA, Columbus, OH, and McLean, VA.
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