SQ Risk Third-Party Risk Management (“SQ-TPRM”) customizes third-party management and assessment activities based on the level of associated risk for each vendor relationship. SQ-TPRM has established a five-stage model to meet industry and regulatory guidance and best practices.
SQ-TPRM is a series of ongoing activities to strengthen vendor relationships and reduce supply-chain risk. SQ Risk offers impartial subject matter expertise, which establishes objectivity in the third-party assessing process. The calendared activities identify third-party risk, review controls, develop additional action plans, and partner with ongoing monitoring partners to further mitigate risk in the relationship.