Inherent Risk vs. Residual Risk: The Foundation of Effective TPRM

An on-demand webinar I did for Prevalent. Effectively managing inherent and residual third-party risks is essential for organizations aiming to thrive in an increasingly interconnected business environment. Understanding their significance is crucial as they provide the foundation for a durable third-party risk management (TPRM) program.

Watch to learn about:

• Identifies the most important criteria to assess vendors on to calculate a comprehensive inherent risk score
• Describes the steps involved in tiering and categorizing suppliers based on their inherent risk
• Defines different risk appetites, which can inform whether risks are accepted or remediated with compensating controls
• Explains the most essential controls for vendors to implement to improve residual risk scores over time

Understanding and managing your inherent and residual third-party risks is crucial for an effective TPRM program. Register now for this webinar to learn how your team can navigate the complex landscape of third-party relationships with confidence and resilience.