Results of the 2019 ‘Taking the Pulse of Third-Party Risk Management’ Survey
For the second year in a row, Aravo has partnered with the Center for Financial Professionals (CeFPRO) to bring you the Global Benchmarking Survey of risk professionals like you. This year’s survey, entitled Third Party Risk: Chasing Maturity in a Dynamic Landscape, suggests that TPRM is maturing as a discipline, but despite better tools and processes, the research identified room for improvement in multiple areas.
The objective of the survey was to shed light on how the discipline of third-party risk management is evolving and to provide important data points to help you benchmark your programs and identify emerging best practices.
The detailed report covers a broad range of issues such as:
- What levels of maturity are programs at?
- Do third party risk programs have the appropriate funding for people, tools and innovation?
- How are boards of directors engaging with TPRM?
- What is the typical organizational structure?
- How are third party risk professionals remunerated?
- What are the greatest challenges and opportunities associated with third party risk management?
The findings are intended to help firms develop their road-map to maturity, and help with planning, resourcing, and direction. We would like to extend our sincere thanks to all those that participated.