The Shared Assessments Program, a member-driven leader in third party risk assurance, recently issued the 2020 Shared Assessments Third Party Risk Management Toolkit to help organizations meet new and evolving regulatory compliance demands, and address evolving physical and cyber risk.

New for 2020 are expanded third party privacy tools for GDPR and CCPA; new operational risk content on emerging and expanding third party risk scenarios such as money laundering, trafficking, anti-trust, anti-bribery, international compliance, call center security, payments compliance, ethical sourcing and human trafficking risk in the supply chain. The 2020 Toolkit also features configuration options that allow both outsourcers and service providers to streamline assessments.

“The Shared Assessments Standard Information Gathering questionnaire is one of our key strategic tools to assessing Third Parties,” said Eric Cohen Director of the Third Party Information Security Assessment Program at Union Bank. “In navigating the complexities of dynamic compliance demands and threat landscapes, the modular questionnaire template, the Vendor Risk Management Maturity Model benchmark tool, and the Standardized Control Assessment Procedure Tools are crucial compasses that our risk management, IT and security teams depend on. The 2020 Toolkit enables our team to gather, assess and verify data on the full breadth of business issues and aspects, with unmatched ease and efficiency.”

The components of the 2020 Toolkit include third party privacy tools, vendor risk management maturity model benchmark tools, standardized information gathering questionnaire tools and standardized control assessment procedure tools.  

About the Shared Assessments Program

As the only organization that has uniquely positioned and developed standardized resources to bring efficiencies to the market for more than a decade, the Shared Assessments Program has become the trusted source in third party risk assurance. Shared Assessments offers opportunities for members to address global risk management challenges through committees, awareness groups, interest groups and special projects.