One of the most demanding aspects of compliance is administration the level of risk intrinsic in third party relationships. As business processes become interrelated with partners and critical corporate and client data are shared, the need to authenticate that proper controls are in place becomes more important. But measuring partner risk can be very prolonged, requiring a lot of labor-intensive effort, and in many cases using tools that were not built to do the job.

Third Party Pro has developed third party risk management services to help mechanize the process of measuring partner risk. A protracted project-based approach, generally ambitious by questionnaires, spreadsheets and manual effort, can be made convenient and measurable through the use of the consulting services of the Third Party Pro Compliance Services practice.

• As part of our Third Party Compliance Service, Third Party Pro will:
• Provide a comprehensive environment plan detailing our admittance to your records
• Test our measures to reveal easy record retrieval
• Modernize our documentation and testing of procedures twice annually
• View partner compliance status real-time through a control panel interface
• Manage the ongoing risk status of each third party
• Easily manage the process of remediating control deficiencies at partners.