Assessment overview

With 3rdRisk, you can systematically evaluate and determine the risk exposure with your third parties and ecosystem. Create, schedule, perform and monitor generic or tailor-made, third-party risk assessments for all your third parties.

Process

The assessment module contains 5 different steps:

  1. Create/select an assessment template
  2. Create an assessment
  3. Fill in the assessment
  4. Review assessment
  5. Finish and close the assessment

Per step, there is a dedicated support page:

StepHigh-level activityResponsibleDocs page
1. Create/select an assessment template- Select one more available questionnaire templates from the store.
- or upload your questionnaire.
Risk officer / Risk manager / Procurement managerAssessment template
Store
2. Create an assessment- Select third-party, deadline and applicable requirements.
- Select the questionnaire, specific domains and reviewer(s).
Risk officer / Risk manager / Procurement managerCreate assessment
3. Fill in the assessment- The third party will receive an email invitation for the 3rdRisk assessment portal to fill in the assessment.
- The third party fills in the assessment and submits the response.
- The third party will receive an email confirmation that the assessment has been completed.
Third-partyFill in assessment
4. Review assessment- Reviewer(s) will receive an email that the assessment is ready for review.
- Reviewer reviews all questionnaires and closes review when there are no more outstanding questions.
- Risk manager/risk officer can register one or more incidents or risks based on assessment results.
ReviewerReview an assessment
5. Finish & close assessment- Platform closes and archives assessment.
- Third-party and his/her business-/contract owner and procurement manager will receive an email to confirm that the assessment is finished and closed.
Third-party / Reviewers / Business manager / Risk manager / Risk officerReview an assessment

Communication flows

In the assessment module, there are various automated e-mails sent by the platform:

Process stepMessageWhenTo
2. Create an assessmentInvite for a 3rdRisk assessmentAutomatically generated and sent when you create an assessment.

External

3. Fill in the assessmentNot yet a response and almost overdue4 days before the due date

External

 Overdue / assessment is cancelled.Past due date

External

Internal

  • Assessment creator
 Confirmation that assessment was successfully submittedWhen assessment submitted

External

4. Review assessmentAssessment ready for reviewWhen assessment submitted

Internal

  • All reviewers
5. Finish & close assessmentReview successfully performedWhen the review was successful

External

Internal

  • Business/contract owner
  • All involved reviewers
  • Third-party manager
  • Security Officer

Known limitations of the assessment management module
Is it not yet possible to have nested / dependency between answers to questions