Solution
Compliance
Our third-party risk, internal control, and compliance solutions are designed to support compliance professionals with identifying, analysing, mitigating and monitoring compliance risks.
3 most common challenges and our solutions
Ensuring robust internal compliance
Maintaining robust internal compliance amidst evolving regulations and organisational complexities.
Internal Control module
The 3rdRisk Internal Control module streamlines the process of ensuring internal compliance. It offers intuitive tools for continuous monitoring and management of internal processes, ensuring they align with changing regulations and internal policies. This module also facilitates effective internal audits, risk assessments, and compliance reporting, making it easier for organisations to stay compliant and ahead of regulatory changes.
Managing a complex regulatory landscape
Keeping up with the complex and ever-changing regulatory landscape across different regions and industries.
Internal Control module
The Internal Control module in 3rdRisk simplifies regulatory compliance by providing a centralised system to track and manage various regulatory requirements. This centralised approach allows for a comprehensive view of compliance status and eases the management of diverse regulations.
Ensuring third-party compliance
Guaranteeing that third-party partners, like customers and suppliers, adhere to necessary compliance standards, which is crucial to avoid indirect non-compliance risks.
TPRM module
The 3rdRisk TPRM module includes rigorous third-party compliance checks, including sanctions and politically exposed persons (PEP) screenings. This ensures that all your third-party engagements are in line with compliance standards, thereby mitigating the risk of non-compliance through associated parties.
Starting with third-party risk management (1): How to set up your capability?
Starting with third-party risk management (2): How to define your requirements?
Starting with third-party risk management (3): How to create your catalogue?
Starting with third-party risk management (4): How to segment your third parties?
Starting with third-party risk management (5): How to send due diligence assessments?
Starting with third-party risk management (6): How to monitor and follow-up?
FAQ
In the overview below, we have listed the most frequently asked questions and answers. Do you still have questions? Just reach out to one of our experts.
Is it possible to generate compliance reports easily with 3rdRisk?
Certainly. 3rdRisk enables easy generation of detailed compliance reports. These reports can be customised to suit your specific requirements, providing clear insights into your compliance status and areas that require attention.
Can 3rdRisk help in managing third-party compliance risk?
Yes, 3rdRisk excels in managing third-party compliance risks. Our platform conducts comprehensive third-party assessments, including sanctions and PEP screenings, to ensure that all your external partnerships comply with the necessary standards and regulations.
Are industry standards like ISO frameworks and NIST standards available in 3rdRisk?
Absolutely. Our Content Hub includes a wide range of industry standards, including ISO frameworks and NIST standards. This provides you with ready access to authoritative compliance resources, streamlining your compliance management process.
Can I integrate my own compliance framework into 3rdRisk?
Yes, you can. 3rdRisk allows you to integrate your existing compliance framework into our platform. This flexibility ensures that you can maintain continuity with your current processes while leveraging our advanced compliance management tools. We also have a Content Hub with prefilled best practice frameworks and questionnaires.
Can I effectively manage third-party risks with 3rdRisk without having a dedicated team?
Yes. By using the TPRM module of the 3rdRisk platform, you can already assess and monitor up to 100 third parties with only a few hours a week. In addition, you can also decide to outsource third-party risk management or internal control activities. For organisations that are inclined to outsource these tasks, we have established partnerships with renowned partners who are well-versed in leveraging our platform’s capabilities allowing them to deliver excellent quality at a competitive price.
Do I need training to operate the 3rdRisk platform?
No. No training or certification is required to operate the 3rdRisk platform. For organisations that choose to manage their internal control or third-party risk management program in-house, our platform acts as an intuitive platform, streamlining processes and making follow-up and monitoring straightforward. Its design ensures that teams can quickly familiarise themselves with its features, reducing the learning curve and allowing for immediate implementation.