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Think Big. Start Small. Grow Fast. Your TPRM journey is unique. Aravo helps you get there with defined steps, roadmaps, and checkpoints.
Aravo understands every company’s journey in managing direct and indirect third-party risk will be different. An all-too-often misstep in taking on a Third-Party Risk Management (TPRM) initiative is not getting your internal and external teams ready and aligned around your risk objectives. We have incorporated over 22 years of working experience and industry best practices into an adaptive Strategic Alignment Framework® (SAF) to meet where your company is at in its TPRM readiness.
Achieve streamlined processes, operational efficiency, and meet business outcomes.
Identifies your business vision, needs, and processes for TPRM
Organizes the people and technology resources available to deliver
Maps to your company’s risk maturity and program readiness
Measures for ongoing program success
The Strategic Alignment Framework® is a best practices-based methodology that adapts to your organization’s TPRM initiative, your goals, teams, processes, and technologies. It includes six chapters developed collaboratively with your team to create an extensive program charter unique to your program. Don’t worry, we will guide you through every step of the process.
Chapter 1
Scope & Objectives
The process starts by defining the purpose of your TPRM program. Building from that purpose, we work with your team on program goals and objectives. This includes outlining the foundational elements of your risk management framework to ensure alignment with business needs and regulatory expectations. By the end, we have a full scope of the program.
Chapter 2
Maturity Model
Leveraging the information from the previous chapters, we find your company’s place on a five-level maturity model. This step helps to right-size fit your TPRM program tactics, targets, and operational goals to your company and team’s readiness. Together, we determine where you are and where you want to go.
Chapter 3
Org Model
Next, we identify and define the cross-functional roles & responsibilities, both internal and external, needed to deliver on your TPRM program. This is a collaborative process that we facilitate across your enterprise to ensure alignment.
Chapter 4
Roadmap
With the knowledge of all involved parties, we build the roadmap that outlines your company’s plan of record for reaching your TPRM vision. We do this through a phased implementation that incorporates learned insights for continuous program optimization and tactical decision-making.
Chapter 5
Blueprints
Depending on your scope, a blueprint is created for each risk category. Each blueprint maps out your software functionality, technologies, and integrations needed to deliver a particular risk domain. These blueprints ensure you have a documented model to locate third-party risk gaps as well as paths you already have in place that work.
Chapter 6
Success Metrics
We complete your Program Charter with success metrics that measure operational and business outcomes. It allows your team to see progressive business value impact as your third-party risk coverages increase and your program matures.