VIDEO

In today’s interconnected technology environment, monitoring the capabilities of critical services provided by third parties and their subcontractors is crucial for employee benefit plan managers and plan committees. A robust Third-Party Risk Management (“TPRM”) program helps employers identify, assess, and mitigate risks associated with their benefit plans’ third-party relationships.

Vendor Monitoring Steps

A well-executed TPRM program fills in the gap left open by ERISA’s failure to define what it means to monitor service providers. This video presents several steps that form the basis for an effective management protocol.

As an employee benefit plan risk advisor, Roland|Criss is vendor neutral and does not sell insurance or any other product or service that conflicts with an employer’s fiduciary duty.

Our expertise and procedures for evaluating vendors have established the benchmark for assessing the cybersecurity capabilities and competency of companies that supply services to welfare, healthcare, and retirement plans.