Which scenario below most resembles your situation?
Small (up to $599M)
Fortrex can relieve you of the stress of TPRM, whether we handle your entire workload, focus exclusively on your critical vendors, or take your program to the next level as you grow. That way, you can report to your Board of Directors and examiners with peace of mind knowing that you’ve met regulatory expectations.
You don’t have the resources to hire in-house expertise to handle the compliance requirements associated with your TPRM responsibilities. While you’ve stayed under the examiner’s radar so far, you still need to be prepared because examiners will be knocking on your door.
You track your TPRM responsibilities primarily on spreadsheets, and it’s becoming inefficient: only one person at a time can update data, the chance of inputting data incorrectly is high, spreadsheets are ineffective unless you actually open them to view deadlines and tasks, they typically have to be recreated every time a new employee is put in charge of TPRM, and they can’t accommodate your institution’s growth. You need a partner who can grow with you, and help you take your TPRM program to the next level with a more formal system.
Fortrex can manage all or some of your TPRM responsibilities, and grow with you, giving you the peace of mind that the tasks you allocate to us are in expert hands.
You have the resources to manage some of your TPRM responsibilities, but don’t have time to handle everything. You’re receiving increased attention from examiners and want to make sure your entire TPRM program meets expectations every time.
You want to grow, but doing so requires more use of third party vendors and therefore a more mature TPRM program because of the increased scrutiny you’ll receive from examiners. You need to upgrade your TPRM program to accommodate growth.
You spend more time trying to get business units to do their jobs in vendor management, than focusing on your other TPRM tasks.
Large ($1B and above)
Fortrex can advise on your current program, propose solutions that resolve any areas of vulnerability, and ensure that your TPRM program is airtight as you grow and receive additional scrutiny from examiners.
You undergo extensive annual regulatory exams. You have the resources to maintain a high-quality TPRM program, but because regulators are always looking for areas of improvement, you’re under intense scrutiny. You want to be 100% sure that you’ll pass rigorous regulatory exams and be able to address any comments from examiners immediately.