Third Party Risk Management

Granular process for assessing and managing risks associated with third-party vendors.

Workflow Performance & Evaluation

Last Evaluated

2024-07-30

Average Completion Time

avg 1.5 days (initial); avg 3 hours (periodic)

Success Rate

98.0%

Cost Per Execution

$2.75

Supporting Teams

These teams are responsible for the continuous improvement and monitoring of this workflow's efficacy.

Workflow Operations
Enterprise Risk Management

Evaluation Notes

More detailed data collection and an added compliance check step.

Workflow Diagram (Agents)
Visualize agent sequence. Data sources are listed below.
Start TPRM
Vendor Questionnaire Processor Agent

Inputs: 1 | Outputs: 1

External Vendor Data Collector Agent

Inputs: 1 | Outputs: 1

Data Formatter Agent

Inputs: 2 | Outputs: 1

TPRM Risk Scorer Agent

Inputs: 1 | Outputs: 1

Decision Support Agent

Inputs: 1 | Outputs: 2

Compliance Check Agent

Inputs: 1 | Outputs: 1

End TPRM

Data Sources

Conceptual data sources for this workflow. Highlighted if consumed by the selected/active agent, or initially available. Teams responsible for each data source are shown if defined.

Vendor Identifiers
internal Source

Context (MCP): Basic vendor name/ID to initiate process.

Vendor Questionnaire Docs
customer Source

Context (MCP): Uploaded SIG, CAIQ, etc.

Parsed Questionnaire Data
internal Source

Context (MCP): Structured data from questionnaires.

External Vendor Intel
internal Source

Context (MCP): News sentiment, security ratings.

Formatted Vendor Bundle for Scoring
internal Source

Context (MCP): Combined data for risk scorer.

Vendor Risk Score & Report
internal Source

Context (MCP): Output from TPRM risk scorer.

TPRM Decision Output
internal Source

Context (MCP): Approve/Reject/Conditional decision.

Input for Compliance Check
internal Source

Context (MCP): Vendor data and decision for compliance verification.

TPRM Compliance Report
internal Source

Context (MCP): Report of compliance check against policies.

Node Details & Actions
Select an agent node or start auto-simulation.

Select an agent node in the diagram or start auto-simulation to see its details.

Simulation Log
Real-time events and AI interactions from the simulation.

Log is empty. Start a simulation to see events.