Author: GRC Practice Director, Alex Hollis.
In this Third Party Risk Management blog series, Alex Hollis will guide you through developing effective information gathering for third parties using five key steps to the formulation of a third party questionnaire. The webinar is available on-demand via BrightTALK here.
There are five key steps to the formulation of a third party questionnaire:
In the twelfth installment of the blog series, we will explore the steps that should be taken to test your questionnaire before you run your third-party assessment.
The final stage before running a third party assessment is testing the assessment. Not unlike planning it is not uncommon for organizations to skip this step.
Testing can be run internally with colleagues or with close partners. You can either sit with your tester and go through question by question, or you can have them complete the assessment and then review.
The questions that you should be asking are
This paper has explored each of the five stages for creating third-party assessment questionnaires. Much of the focus has been around managing assessment fatigue of the respondent, to maintain a high quality of the answers returned.
To view the previous blogs in the series click here.