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eBook: Meeting the Expectations of the Board

Aravo’s eBook Meeting the Expectations of the Board: Accelerating vendor and third-party program maturity to enhance governance and oversight is a useful tool for boards AND for third-party risk professionals seeking to educate their boards about why TPRM is so important for the organization, and why investment is important.

It provides a very useful benchmarking maturity model, and covers:

  • Why boards are prioritizing third-party risk management
  • Why third-party risk is such a unique challenge for boards and their organizations
  • What a good governance framework looks like
  • Third Party Governance best practices:
    • Comprehensive governance structure
    • Clearly defined roles and responsibilities
    • Regular third-party review meetings
    • Cohesion across three lines of defense
    • Third-party risk appetite and thresholds well defined and understood
    • Segmentation reviewed annually
    • Issue escalation rarely needed
    • Issues resolved quickly/effectively
    • Integrated enterprise TPRM IT solutions in place
    • Third-party relationship review maximized
    • Industry best practices embraced
    • Utilities and standardization
    • Enterprise view of risk, performance and compliance
  • How the board can help embed third-party risk governance

Aravo ebook - Meeting the Expectations of the Board

 

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