Third Party Risk Management
| 1. Third Party Risk Management focuses on identifying and reducing risks relating to the use of third parties.
Notes (1): enables organisations to monitor and assess the risk posed by third parties. Notes (2): identifies where the risk exceeds the TPRM threshold set by the business. Notes (3): requires organisation to build a business engagement model with supporting analytical processes to ensure it has visibility of all Third Parties supporting the organisation. Notes (4): ensures an effective governance model is in place to provide oversight of performance and risk across the entire supply chain. Notes (5): should implement risk assessments that include sub-contractor risks. Notes (6): Third party refers to as vendors, suppliers, partners, contractors, sub-contractors, or service providers. 
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