Overview
A regional commercial bank entrusted us with the enhancement and streamlining of their TPRM program as part of their program maturity initiative.
Requirements/Challenges
The client had their TPRM program built out in Archer, though a lot of their processes were still manual. The Archer platform wasn’t being used to its full potential – the usage was less for process automation and more as a document repository with most of the key processes still being performed outside Archer in spreadsheets.
Templar Shield worked with the bank’s enterprise vendor risk management team to update their Archer implementation. We incorporated our proprietary TPRM-in-a-Box solution which enabled them to automate their engagement risk assessments, document findings, and diligently monitor high-risk third parties. We incorporated due diligence and risk assessment questions that added efficiencies to pre-contract assessments and simplified reassessments. The vendor tiering was automated based on systematic reviews of vendor documentation and document effectiveness ratings.
We helped the client become approximately 60% more efficient by automating their TPRM program implementation. Process automation increased user adoption. The team was able to generate executive reporting to visualize the vendor risk profile to determine the reassessment cadence.
There is no excerpt because this is a protected post.
