The Shared Assessments Program, a member-driven leader in third party risk assurance, announced a new addition to its Third Party Risk Management framework covering the subjects of periodic assessments and continuous monitoring. This new Framework module is available today to program members on the Shared Assessments website.

Organizations globally are searching for ways to improve the efficiency of existing third party risk management programs while simultaneously enhancing effectiveness, and this module examines a number of emerging processes that can help meet those twin goals.

• Virtual and Open House Assessments
• Brokered Assessment Repositories
• Assurance Portals
• Collaborative Assessments
• Assessment Load Leveling

The module explores the changing relationship between periodic assessments and continuous monitoring, and examines solutions to the problems organizations are reporting when implementing continuous monitoring programs focused on threat intelligence.

“The guidance in this release is spot-on, especially given the evolving threat landscape and the reliance on third party service and hosting providers,” said Rocco Grillo, Managing Director atGlobal Cyber Risk Service, Alverez & Marsal. “With the module’s focus on integrating continuous monitoring and incident management processes into legacy TPRM programs, it will propel organizations in their quest to achieve greater cybersecurity resiliency. The module provides solid guidance to mitigate the everyday issues and risks that imperil program efficacy.”

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.