3GRC Risk Manager is an industry leading versatile vendor risk management solution that provides benefits through business risk identification and remediation workflow. 3GRC Risk Manager is a cloud based surveying solution which automatically identifies risk and populates risk registers, driving remediation and compliance in a single location through a streamlined and user-friendly manner.Contact Sales
Third party and supplier relationships are under growing scrutiny by regulators globally, including the US Office of the Comptroller of the Currency (OCC), FINRA, the UK Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Monetary Authority of Singapore (MAS). As institutions increase reliance on third parties to deliver business critical processes and services, the complexity of risk identification and management also increases.
The implementation of effective and standardised operational risk management is now a mission critical area in financial services. Data protection concerns, which have only increased with the ratification of the General Data Protection Regulation (GDPR), continued increases in cyber security threats, financial crisis and an increasing regulatory focus have all combined to create a major challenge for financial institutions.
Financial firms need a solution that can help identify and monitor potential third party and supply chain vulnerabilities, as well as assess them for good practice including compliance with Anti Bribery and Corruption and Modern Slavery.
The ability to assess and monitor third party risk is a key part of any operational risk strategy. As financial institutions reliance on third parties to deliver business critical services and processes is greater than ever before, the complexity of managing the risk and oversight process intensifies.
Institutions rely on an array of external suppliers that provide technology, data, consulting and services including custody and prime brokerage. In particular, competitive strength in financial services today is to a large degree dependent on technology.
Regulators in Financial centre markets are increasing their focus on third party risk; in a number of jurisdictions they have issued guidelines on third party risk including the Federal Reserve Board and the UK Prudential Regulation Authority (PRA).
Ageas Insurance in the UK had a requirement to improve and scale out their third party risk management process.Read More
3GRC Risk Manager provides a centralised hub that enables financial institutions to standardise and simplify the third party due diligence process.
With survey and risk content specifically designed and built to assist with meeting Financial Regulation, 3GRC Risk Manager provides customers with content to address specific regulations including GDPR, FCA, PCI, Anti-Bribery and Corruption, Modern Slavery and more.
Contact us for a free demonstration of the 3GRC portal, we’ll show you just how easy it can be to manage your third party partners and supplier relationships.Contact us