TPRM Framework and Policy
A clear program model covering governance, scope, roles, risk appetite, lifecycle activities, escalation and reporting.
Falcon Oaks helps organizations identify, assess, contract for, monitor and report on the risks introduced by vendors, partners, cloud providers and other external dependencies—with a program designed to scale and stand up to audit or regulatory scrutiny.
Third parties can improve speed, capability and efficiency, but they also extend your risk surface. A vendor outage, data breach, control failure or subcontractor issue can interrupt critical operations and create regulatory, financial and reputational consequences for your organization.
Falcon Oaks builds practical TPRM programs that apply the right level of diligence and oversight to each relationship. The objective is to understand criticality, apply proportionate controls and maintain defensible evidence throughout the lifecycle.
A clear program model covering governance, scope, roles, risk appetite, lifecycle activities, escalation and reporting.
A reliable source of truth for vendors, services, data access, critical dependencies, owners and contractual status.
A practical method for assigning diligence and monitoring based on criticality and risk.
Questionnaires, evidence requirements, review criteria, approvals and exception handling.
Criteria for security, privacy, notification, audit rights, resilience, subcontractors and exit.
Documented findings, treatment actions, owners, acceptance decisions and residual risk.
Reassessment triggers, review frequencies, performance indicators and issue escalation.
Reporting on critical vendors, concentration, overdue issues, incidents and emerging exposure.
Enhanced diligence, stronger contracts, frequent monitoring, resilience review and senior oversight.
Targeted security and privacy assessment, issue remediation and periodic reassessment.
Streamlined screening and baseline contractual requirements appropriate to exposure.
Efficient documentation and approval without unnecessary assessment burden.
A structured, evidence-first path from discovery to sustainable execution.
Identify third parties, services, data access, dependencies and business owners.
Determine criticality and exposure before selecting the level of diligence.
Review security, privacy, resilience, compliance, financial and operational evidence.
Address obligations, notification, audit rights, service levels, subcontractors and exit requirements.
Document decisions, exceptions, accepted risk, required remediation and ownership.
Track performance, incidents, changes and control posture throughout the relationship.
Address access removal, data return or destruction, continuity and transition risk.
Speak with a senior Falcon Oaks advisor if your situation requires a more specific answer.
No. A mature program uses risk and criticality to determine the depth of diligence. Low-risk vendors should not receive the same assessment as a provider hosting sensitive data or supporting a critical operation.
Yes. Falcon Oaks can assess governance, inventory quality, tiering, due diligence, contracts, monitoring, reporting and evidence, then prioritize improvements.
Yes. Depending on scope, we can review questionnaires, SOC reports, ISO certificates, policies, penetration-test summaries, incident information and resilience evidence.
Yes. We can assess and design governance, lifecycle processes, risk-based tiering, due diligence, monitoring and reporting in the context of OSFI B-10 and related expectations.
Whether you are creating a TPRM program or strengthening an existing one, Falcon Oaks will help you focus on the vendors, risks and controls that matter most.