Third party risk management

Build and deliver trust in your whole ecosystem

As the world changes geo politically and technologically, so do businesses’ supply chain, operations and business models. Organisations cannot remain competitive and relevant without third party relationships as part of their service offerings and operations.

With the opportunities with third party collaboration also brings exposure to specific risks, such as the potential loss of sensitive data, and possible disruptions to critical business services. The sheer number of third-party relationships companies often have can make it difficult to oversee the multiple risks involved.

As organisations increasingly expand their ecosystem, enhancing collaboration with third parties, the need to have a robust third party risk management program also increases. Hence, having an efficient and effective tech-powered third-party risk management programme is critical, from onboarding, including integrity due diligence, to persistent monitoring.

We help organisations prioritise their third-party risk management program to focus on the risks that matter (e.g., technology, cyber, resilience, concentration, etc) and offer effective and pragmatic solutions to tailor risk and control processes and operating models to effectively manage third party risks.

How our third party risk management services can help you

We assist your organisation with the design and implementation of third party risk management programmes, including strategically selecting the right technology and providing managed services solutions, to ensure you receive the necessary support throughout the entire third party risk management journey.

Third party risk management framework

To manage your third parties and their risk, we can help you build or enhance your third party risk management framework that is fit for purpose while meeting regulatory requirements.

Our framework helps you understand and identify risk associated with your third party in alignment to your enterprise business and risk management strategy. As part of the framework, we can help you establish:

  • third party risk governance structure, including reporting lines and oversight functions;
  • develop or enhance your policies and standards for third party risk;
  • key risk considerations in evaluating your third parties;
  • minimum regulatory considerations for third party risk management, for example MAS Outsourcing Guidelines.
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Contact us

Kyra Mattar

Kyra Mattar

Third Party Trust Leader, PwC Singapore

Tel: +65 9735 2506

Siou Kee Ong

Siou Kee Ong

Director, Digital Solutions, PwC Singapore

Tel: +65 9665 4963