Solution
Law firms
Our third-party risk, internal control, and compliance management solutions are designed to address the specific challenges of law firms, ensuring effective risk management, regulatory compliance, and operational efficiency.
3 most common challenges and our solutions
Customer and partner due diligence
Conducting thorough due diligence on customer and partners is essential for law firms to mitigate risks associated with external collaborations.
TPRM/Compliance module
The 3rdRisk TPRM and Compliance modules offer comprehensive due diligence tools. It enables law firms to effectively assess and monitor their external partners, ensuring that collaborations are secure and risks are minimised.
Adherence to legal and ethical standards
Law firms must ensure strict adherence to legal and ethical standards in their operations and client dealings, with non-compliance risking severe repercussions.
Internal Control module
Our Internal Control module fosters a culture of accountability and awareness by providing an intuitive and collaborative environment.I supports law firms in upholding legal and ethical standards.
Regulatory compliance in diverse jurisdictions
Law firms often operate across various jurisdictions, each with its own set of regulations, making regulatory compliance a complex task.
Internal Control module
The 3rdRisk Internal Control module simplifies compliance management across multiple jurisdictions. It provides resources and tools to manage all applicable frameworks with ease at one central place.
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?
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.
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.
