Third-Party Risk Management

Organisations increasingly rely on external vendors, suppliers, and service providers, creating complex webs of third-party relationships that introduce operational, security, and compliance risks. Fluvial provides a comprehensive platform for assessing, monitoring, and managing these relationships throughout their lifecycle.

The TPRM Challenge

Third-party risk management extends beyond initial vendor selection. Organisations must continuously assess vendor security posture, financial stability, regulatory compliance, and operational capabilities while maintaining audit trails that satisfy regulatory requirements. This ongoing assessment generates substantial documentation that must be maintained, updated, and made available for review.

How Fluvial Addresses TPRM Requirements

Comprehensive Vendor Assessment

Fluvial’s questionnaire management system supports multi-dimensional vendor evaluations covering security, compliance, financial stability, and operational capabilities. Hierarchical question organisation allows assessment frameworks to mirror regulatory standards (SOC 2, ISO 27001, GDPR) while weighted scoring provides risk-based vendor classification.

Approval-Gated Review Processes

The workflow system enforces multi-tier review requirements common in TPRM programs. Security teams review technical controls, legal teams verify contractual protections, and risk committees approve high-risk vendor relationships. CEL-based guard expressions ensure vendors cannot be onboarded until all required approvals are obtained and risk thresholds are met.

Vendor Profile Documentation

Structured document automation transforms assessment responses into maintained vendor profiles. Security questionnaire responses populate vendor risk profiles that serve as reference documentation across the organisation. When vendors undergo reassessment, mappings update existing profiles while JSON Patch audit trails preserve the complete history of risk rating changes.

Continuous Monitoring Integration

API integration enables real-time updates from external risk intelligence sources. Webhook notifications alert risk teams when vendor security incidents occur, financial ratings change, or compliance certifications expire. Webhook-driven automation can automatically trigger reassessment workflows when vendor risk profiles change materially.

Key Capabilities for TPRM

Vendor Lifecycle Management - From initial assessment through ongoing monitoring to off-boarding, workflows track vendor status and ensure periodic reassessment occurs on schedule.

Risk-Based Classification - Weighted scoring automatically categorizes vendors into risk tiers, determining reassessment frequency and approval requirements.

Regulatory Audit Support - Complete audit trails demonstrate vendor assessment rigor, approval documentation, and continuous monitoring compliance for regulatory examinations.

Reference Data Accumulation - Organisations build proprietary vendor intelligence databases, with each assessment enriching institutional knowledge about vendor capabilities and risks.

Typical TPRM Workflow

A vendor progresses from initial assessment through security review, legal evaluation, and risk committee approval. High-risk vendors require additional executive sign-off before onboarding. Once approved, the vendor profile enters continuous monitoring status, with automated alerts triggering reassessment when risk indicators change.

Throughout this lifecycle, every assessment, approval decision, and risk rating change is documented with complete audit trails suitable for regulatory examination.

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Fluvial transforms third-party risk management from a compliance exercise into a systematic risk intelligence capability, providing organisations with comprehensive vendor visibility while maintaining the rigorous controls required in regulated environments.