Enterprise Risk & Compliance

Third Party Risk Management

Generating Enterprise Risk and Compliance Impact

Against a backdrop of growing risks from internal and external factors - from employees and suppliers, data breaches, natural disasters - and longer and more complex supply chains and increasingly onerous regulations, traditional controls and safeguards are being stretched to the limit. Genpact provides companies with responsive and proactive third-party risk management (TPRM) operations that identify, assess, mitigate, and respond to the prevalent third-party risk.

Solutions

Show More

Genpact's TPRM solution draws on its Lean DigitalSM approach that harnesses design-thinking methods, Lean principles, digital technologies and analytics, and deep domain expertise.

This modular, comprehensive vendor risk management service leverages Genpact's unique analytical, reporting, and risk management expertise, while consolidating information from multiple external and internal data sources. Together with a tightly focused set of digital solutions, such as natural language processing, machine learning, advanced analytics, and enhanced visualization, the methodology provides companies with unprecedented insight into the complexities of third-party risk.

Our services include:

TPRM framework 

  • Current state assessment and gap analysis based on leading practices
  • Development of policy and procedures for the gaps identified
  • Technology selection and optimization

Third-party profile

  • Captures key information such as contact, markets served, product information, etc.
  • Pulls data from authenticated public sources and third parties

Third-party screening

  • Screens third parties on sanctions, embargo list, stated-owned companies, politically exposed personas, negative media, and related risks
  • Combines multiple data feeds, including public information

Financial risk assessment

  • Assessment of third parties' financial stability to sustain/support continuous and scalable operations with adequate quality
  • Employs state-of-the-art scoring software with regular updates

Risk assessment

  • Detailed risk assessment of specified risk parameters through workflow tools
  • Reduces cycle time with intelligent questionnaires and detailed industry domain knowledge

Audit

  • Runs third-party audit programs across operational, information security, and compliance risk, etc.
  • Supports remote or on-site approach to reduce cycle times and to formulate results-oriented action plans

Dashboards and risk scorecards

  • Offers in-depth third-party risk reports
  • Custom dashboards with near real-time updates and end-to-end process visibility

Impact

Ready to
Explore?