Archer Third Party Governance 6.12

The Archer Third Party Governance use case provides supplier engagement performance monitoring. Metrics can be established within 4 categories: Quality, Innovation, Performance, and Relationship. Metrics are depicted for each engagement and are rolled up to the third party to depict their performance across all of their product or services engagements with your organization.

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Benefits of Third Party Governance Use Case

For the key features and benefits of this use case, see the Data Sheet on the Archer Community: https://www.archerirm.community/t5/solution-use-case-overviews/archer-solutions-amp-use-cases/ba-p/572564

How Third Party Governance fits into a risk and compliance program

Third Party Governance is a use case in the Third Party Governance solution area. The following section describes the use cases that Third Party Governance requires as a prerequisite.

Prerequisite and next use cases

The following diagram shows how this use case fits into the overall Third Party Governance solution area. For information on these Archer use cases, see the Archer Solutions Help.

Prerequisites

What you have

What's next

Third Party Catalog

Third Party Governance

 
  • Document your third parties, subsidiaries, and sub-subsidiaries
  • Create third party engagements
  • Document third party contracts

Third Party Risk Management

  • Assess the third party’s internal control environment
  • Collect relevant supporting documentation for further analysis
  • Determine the organization’s residual risk across several risk categories

Third Party Engagement

  • Catalog third party products and services and map engagements to the business processes they support

  • Request third party products and services, and evaluate and manage requests

  • Perform inherent risk assessments on engagements across seven different risk categories and roll up results to an overall third party risk profile.

  • Capture and analyze significant fourth party relationships

  • Analyze the financial viability of each third party

  • Catalog master services agreements associated with engagements

  • Perform contract risk assessments

  • Capture the third party’s proof of insurance and evaluate the adequacy of the insurance
  • Define and document performance metrics for third parties
  • Track all contractual service level agreement (SLA) metrics
  • Capture performance metric data and report on performance of individual engagements

  • Conduct zero-day vulnerability and location-based risk assessments

None

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