Archer Third Party Risk Management 6.9
Archer Third Party Risk Management employs a series of risk assessment questionnaires for third parties, enabling your organization to assess their internal controls and collect relevant supporting documentation for further analysis. Questionnaire results are factored into a determination of the residual risk of each engagement being delivered by the third party.
Residual risk is assessed across several risk categories: compliance/litigation, financial, information security, reputation, resiliency, strategic, sustainability, and fourth-party risk. Risk results are depicted for each engagement and rolled up to the corresponding third party to obtain an overall view of the third party’s “aggregate” risk to your organization. Risk assessment findings can be automatically captured and managed as exceptions, and remediation plans can be established, assigned to accountable individuals, and monitored to resolution.
For the key features and benefits of this use case, see the Data Sheet on the Archer Community: https://community.rsa.com/docs/DOC-40093
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How Third Party Risk Management fits into a risk and compliance program
Third Party Risk Management is a use case in the Third Party Governance solution area. The following sections describe the use cases that Third Party Risk Management requires as a prerequisite, which use cases you can upgrade to as your third party governance program matures, and which use cases in other solution areas you can integrate for additional business context and functionality.
Prerequisite and next use cases
This following diagram shows how this use case fits into the overall Third Party Governance solution area.
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Third Party Catalog |
Third Party Risk Management |
Third Party Engagements |
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Third Party Governance
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Related use cases in other solution areas
Application Name |
Primary Purpose(s) of the Relationship |
Use Case Name |
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Incidents |
View any incidents related to your third parties. |
Incident Management |
Loss Events |
View any loss events related to third party engagements. |
Loss Event Management |
Additional resources
The following additional resources are available for this use case:
The following additional resource is available for the Third Party Governance solution area: Third Party Governance Solution Brief.