Third-Party Risk Management (TPRM)
Our Third-Party Risk Management solutions safeguard business operations, ensure vendor compliance, and mitigate supply chain vulnerabilities.
Enquiry Form
0
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Client Engagements
150
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Vendors Assessed
30
%
Compliance
Rate
0
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Years of Experience
20
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Client
Engagements
150
+
Vendors
Assessed
30
%
Repeat Client Engagements
0
+
Years of
Experience
Transform vendor risk into business resilience and build a secure third-party ecosystem with our experts
We offer end-to-end vendor risk evaluation, monitoring, and compliance management, strengthening organizations to effectively manage third-party risks across value chain. Our professionals enable organizations to identify, analyze, and reduce third-party relationship-related risks, in financial, operational, regulatory, and security aspects. Our risk-based strategy assures that vendor ecosystem is compliant, resilient and aligned with business goals. This enables organizations to build a resilient ecosystem that aligns with business objectives.
Service Areas Within Third-Party Risk Management (TPRM)
TPRM Framework Design & Adoption
We design and implement end-to-end TPRM Framework as per RBI, SEBI, IRDAI, and DPDP Act requirements. Our team establishes risk appetite for various sectors and evolving regulatory environments.
Vendor Diligence & Contract Risk Reviews
We conduct pre-engagement vendor assessments, structured onboarding processes, including SLA enforceability, and exit / transition terms ensuring we contractually secure vendor relationships.
Third-Party Cyber & Resilience Assessments
We perform structured assessments of cybersecurity maturity, prepare for business continuity and incident response of critical vendors.
Data Privacy & Information Risk Reviews
We evaluate how third parties collect, process, store, and share personal information in compliance with the DPDP Act, GDPR, and sectoral privacy regulations.
Audit & Assurance
Our experts conduct independent audits of third-party controls, such as SOC 1 / SOC 2 Report Review, ISAE 3402 assessment, right to audit, and onsite vendor inspection.
Monitoring, Reporting & Benchmarking
We move beyond point-in-time vendor assessments through continuous monitoring of security, compliance, financial health, and incidents, while benchmarking TPRM programmes to identify gaps.
Ascentium Insights
Frequently Asked Questions
What services are included under Third-Party Risk Management?
Our Third-Party Risk Management includes financial health analysis, verification of regulatory compliance, testing of cybersecurity posture and operational resilience, and reputational risk screening of all third-party vendors and suppliers.
How frequently should vendors be reassessed?
Frequency of re-assessment depends on the intensity of the risk. In case of a low-risk scenario it can be every quarter or annually. However, there is a need to monitor critical vendors frequently and a complete review annually should not be ignored.
Which regulations require Third-Party Risk Management compliance?
Third-Party Risk Management is required by RBI guidelines and SEBI cybersecurity framework, IRDAI third-party risk management guidelines, and DPDP Act requirements. GDPR is a regulation of vendors dealing with EU data. Industry-specific regulations (banking, insurance, healthcare) introduce additional requirements.
How is cybersecurity risk calculated?
We conduct security assessments that include controls evaluation, vulnerability testing, incident response readiness, data protection compliance, and alignment with ISO 27001 and NIST frameworks. These assessments are further strengthened through vendor questionnaires and onsite audits, providing deeper insights into the vendor’s security posture and resilience.
What is vendor risk scoring?
We use a risk scoring tool that assesses the vendors on various dimensions (compliance, financial, operational, cybersecurity, reputational). The scores are then used to determine the frequency of monitoring, the escalation levels and urgency of remediation. This score is in line with the risk appetite of the business.
How can Third-Party Risk Management implementation costs be reduced?
The cost can be reduced by phased implementation, risk-based vendor segmentation, and automation of monitoring. We help prioritize high-risk vendors first, use self-assessment questionnaires, and leverage technology for continuous monitoring at scale.
What are the actions taken when a vendor fails risk assessment?
Vendors who do not pass assessment are placed under remediation with specific timelines and success requirements. Escalation protocols activate when remediation does not work. Final results are improved monitoring or renegotiation of contracts or dissolution of relationships.
How is Third-Party Risk Management compliance ensured with regulatory requirements?
Our frameworks align with RBI, SEBI, IRDAI, and CERT-In requirements. We provide audit-ready documentation, compliance certifications, and regulatory alignment reports. Policies are updated regularly to monitor evolving regulatory environments.
Can Third-Party Risk Management be integrated with procurement?
Yes, Third-Party Risk Management can be integrated into vendor selection, contract management, and performance evaluation workflows. Pre-approval risk assessments enable faster procurement while maintaining risk governance.
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