Strengthening trust in your supply chain

In an increasingly interconnected and digital global economy, organisations rely on a growing network of vendors, suppliers, contractors, and outsourcing partners. While these relationships bring efficiency and scalability, they also introduce significant risks, ranging from data breaches and operational disruptions to compliance failures and reputational harm. Many recent regulatory developments in Europe have further amplified the need for structured oversight of third parties, making Third Party Risk Management (TPRM) a strategic priority rather than an optional control.

Modern organisations face heightened scrutiny from regulators, customers, and stakeholders. TPRM has become essential in safeguarding operations and ensuring that external relationships do not compromise security, compliance, or business continuity.

Key risk drivers

Increasing regulatory pressure

European and Maltese regulatory frameworks such as the Digital Operational Resilience Act, the EU AML/CFT framework, GDPR, and sector specific guidelines in financial services, place explicit obligations on organisations to ensure their third party dependencies are properly assessed and monitored. Non compliance can result not only in financial penalties but also in regulatory remediation expectations and reputational damage.

Greater reliance on outsourced services

Cloud platforms, IT managed services, payroll providers, business process outsourcing, and specialist advisory firms play critical roles in daily operations. A failure in any of these can lead to business disruption, data loss, or significant operational delays.

Global complex supply chains

Geopolitical tensions, economic fluctuations, and increased supply chain digitisation have expanded the risk impact radius. Even small suppliers can introduce vulnerabilities that ripple through an organisation.

Heightened cybersecurity and data protection risks

Most data breaches today involve third party weaknesses. Organisations must ensure that every partner handling sensitive data applies robust controls aligned with industry standards.

RSM Malta’s TPRM service is designed to help organisations achieve visibility, control, and assurance over the risks introduced by third parties. Our holistic approach integrates regulatory expectations, industry best practices, and practical implementation guidance.

We assist organisations in:

Establishing a TPRM governance framework

We design or optimise your TPRM policy, procedures, roles, risk taxonomy, and reporting lines, ensuring alignment with EU and Maltese regulatory obligations, including those applicable to financial services, gaming, public sector, and regulated industries.

Conducting third party risk assessments

Using structured risk based methodologies, we evaluate third parties across dimensions such as operational, cybersecurity, privacy, financial, compliance, and resilience risk.

Performing due diligence and enhanced due diligence

Our specialists review documentation, validate evidence, and conduct independent assessments tailored to the risk profile of each third party. This includes AML/CFT checks, sanctions screening, ESG considerations, data protection controls, and cybersecurity maturity.

Supporting contract and SLA reviews

We help ensure that contracts include the required regulatory, cybersecurity, confidentiality, data protection, audit, and exit clause expectations.

Continuous monitoring and remediation support

We assist clients in establishing ongoing oversight mechanisms, periodic reassessments, and remediation tracking to ensure sustained compliance and risk reduction over the lifecycle of the relationship.

Technology enabled TPRM implementation

Our advisors advise on the selection and implementation of technology solutions that automate vendor onboarding, risk assessments, workflows, and centralised tracking.