Third-Party Risk Management

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.

  • Identify Third-Party Relationships
  • Establish Third-Party Risk Criteria
  • Gather Information to understand Third-Party Controls
  • Conduct Risk Assessments of Third-Parties
  • Enhance Third-Party Relationships Through Remediation

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.