Third Party Risk Management as a Service (TPRMaaS)
The Lynx team of professionals can help you build, manage and/or execute a consistent and comprehensive Third-Party Assessment Program. We can supplement your team to manage assessment backlogs and surges or run your program end to end.
Our Approach
Lynx Third Party Assessment Professionals have extensive experience supporting clients globally with their many assessment programs. Our TPRM managed services leverage the Lynx Risk Manager (LRM) platform and our Risk Operations Center (ROC). We understand organizations must protect themselves against compromised software security vulnerabilities in their supply chain and poor information security practices of suppliers.
Our team of Professionals can leverage or supplement your internally developed programs and provide third party tool integration as needed.
• External Attack Surface Management
• Third Party Risk Assessment/Scanning
• Dark Web Reconnaissance
The Lynx ROC teams use 3rd party tools to assess and monitor our client’s third-party companies.
How's Your View?
Find out how TPRMaaS can transform the way you view risk.
Resources
Lynx Risk Manager® Key Functions
Our managed and professional services are powered by Lynx Risk Manager (LRM). LRM is Lynx’s proprietary Security Risk Management and Compliance platform that enables simplification, automation and integration of strategic, operational and security risk management processes and data.
IDENTIFY
Identify the criticality of IT assets and their support of key business processes to define an IT risk profile.
ASSESS
Automatically assess your technical and procedural controls for compliance with interfaces to third-party tools and web-based surveys.
REMEDIATE
Prioritize and address technical and procedural control deficiencies, assign and track results.
MANAGE
Create operational and strategic visibility across compliance, IT risk and control environments with role-based and dashboard reporting.
Our Process
A comprehensive approach to help you Identify, Monitor, and Mitigate Third Party Risk.
Program Implementation & Development
- Develop strategic risk assessment framework and methodology to assess vendors based on their risk to the organization
- Targeted questionnaires/assessments based on third-party product/service (increased response turn-around time)
- Develop internal controls framework specific to third-party classification
- Provide control mappings to industry frameworks, standards and/or internal policies
Program Assessment
- Current state gap analysis, benchmarking, roadmap with recommendations for implementation across people, process, and technology
- Industry perspective for program and process improvements and enhancements
- Program maturity model
- Streamline current processes – create policies/procedures documentation to ensure program compliance
Assessment Support
- Define and assess controls
- Review evidence
- Provide recommendations for remediation
- Assessment backlogs
Streamline Risk Management Processes
- Provide resources to help improve / streamline / review current GRC implementation
Managed Service
- End-to-end process
- Technology support including due diligence
- Questionnaires
- Remote/onsite assessments
- Monitoring and reporting
TPRM Supplier Monitoring
- Provide continuous analysis using various sources to identify current state and potential emerging risks and issues across 3rd party portfolio
- Risk Operation team utilizes monitoring tools such as Bitsight, Black Kite, Security Scorecard, and others to recognize trends, perform benchmarking and potential correlation between data for predicative analysis
- Define and establish program management and support process
Key TPRM and TPRMaaS Clients
Third Party Risk Management
Third Party Risk Management is more than simply checking compliance boxes. It is a combination of truly analyzing the inherent risks organizations pose to your environment as well as continuously monitoring those organizations.
Manage Your Risks
Identify and reduce risks relating to your use of third parties.
