Third Party Risk Management

Service Description

Service Delivery Overview Mersli provides Third-Party Risk Due Diligence Support, executed by Risk Assessors and Analysts who utilize the client’s existing risk management systems to assess and report on vendor risks. Our services ensure compliance, risk transparency, and informed decision-making within the client’s governance framework. Key Service Delivery Tasks 1. Risk-Based Due Diligence ✔ Conduct third-party risk assessments using the client’s TPRM platform and risk scoring models. ✔ Evaluate vendors based on financial, operational, cybersecurity, and compliance risks. ✔ Classify vendors according to risk exposure and criticality. 2. Regulatory & Compliance Screening ✔ Perform sanctions, watchlist, and adverse media checks within the client’s monitoring tools. ✔ Assess vendor compliance with GDPR, FCPA, OCC, HIPAA, PCI-DSS, and internal policies. ✔ Flag regulatory concerns and recommend mitigation measures. 3. Document Review & Validation ✔ Analyze vendor documents, including security policies, financials, and certifications (SOC 2, ISO 27001, etc.). ✔ Identify documentation gaps and recommend corrective actions. ✔ Maintain records in the client’s document repository. 4. Risk Scoring & Reporting ✔ Assign risk scores using the client’s internal risk rating system. ✔ Prepare risk assessment reports with findings, concerns, and recommendations. ✔ Provide risk summaries for procurement, compliance, and leadership teams. 5. Ongoing Monitoring & Event Handling ✔ Leverage the client’s continuous monitoring tools for vendor risk tracking. ✔ Conduct periodic reassessments and risk event escalations. Support risk mitigation efforts in collaboration with internal stakeholders. 6. Policy & Governance Adherence ✔ Ensure assessments align with the client’s TPRM policies and regulatory requirements. ✔ Provide process improvement recommendations and support training initiatives. Why Choose Mersli? ✅ Seamless System Integration – We work within your risk management framework. ✅ Compliance-Driven Approach – Aligning with industry standards and regulations. ✅ Actionable Risk Insights – Delivering structured risk scoring and reporting. ✅ Proactive Risk Management – Supporting ongoing monitoring and mitigation. Contact us to enhance your third-party risk due diligence today.