WEBINAR

Third-party risk management (“TPRM”) refers to the practice of engaging external entities to evaluate and oversee various aspects of a business operation.

In the context of 401(k) or 403(b) plan operations, TPRM disciplines are employed to assess the performance, reliability, and adherence to regulatory standards of plan recordkeepers, investment firms, healthcare providers, healthcare consultants and those providers subcontracted vendors.

TPRM-trained executives are typically employed in supply chain management positions siloed away from employee benefit plans. With the burden for procuring services for retirement, pension, and healthcare plans falling squarely on finance and human resources executives who generally do not have the academic training in supply chain management, it’s not surprising that so few are at ease in that role. An independent TPRM fiduciary can give peace of mind.

This video provides answers and suggestions on how to meet the TPRM challenge.