Third Party Risk Management
Mid-sized and larger organizations are increasingly relying on third parties to manage key business processes (Strategic Outsourcing, Business Process Outsourcing, Logistics, Legal Services, Procurement, Benefits, PMO’s, HR etc) without adequate governance. Current Governance, Risk & Compliance and consulting offerings may not directly address the risks associated with third-party reliance. This is where third-party risk management will give you a leg up on your competition and effectively limit your business’ exposure to third-parties’ poor decisions.
The Poirier Group’s (TPG) offerings in Third Party Risk Management are scaled and modular, enabling immediate risk mitigation and rapid deployment of effective governance.
We are known as management consultants, but our core competency is operational. We hire the very best people who have real-life experience in everything from operational risk, cybersecurity, technology implementation, change management, financial analysis, and much more. We leverage these skills to extract unique insights and get results faster.
TPG addresses the business risk of relying on others by creating sustainable and effective Third-Party Risk Frameworks to govern outsourcing, offshore and third-party relationships. We then identify gaps in managing third-party relationships and create a roadmap for your organizational success.
Having the right processes, policies and plans in place will have measurable impacts on your success. Third party Risk Management needs to be kept in mind at every stage, from procurement through steady-state delivery.
Doing it right means Client will enjoy
Mandatory Breach Notification (MBN) Readiness Assessment
As of November 1, 2018, new regulations are in force for mandatory reporting of privacy breaches under Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA). These regulations better harmonize Canadian breach reporting with the recent European Union General Data Protection Regulation (GDPR).
Failure to comply fully with these new requirements could result in substantial penalties, negative impact on your brand and the risk of class action suits by those affected. Third parties that manage personal information on your behalf may not be ready to provide the information you need for compliance.
TPG will rapidly evaluate your organization’s key breach reporting practices and size up potential gaps in complying with the new Mandatory Breach Notification regulations
Our view: Its about processes, people and adaptation
At TPG, we take Third Party Risk Management very seriously. We will rapidly evaluate your organization’s key breach reporting practices and size up potential gaps in complying with the new Mandatory Breach Notification (MBN) regulations. Our assessment will: