In today’s hyper‑connected world, no company operates alone. Whether you’re working with suppliers, technology partners, distributors, or service providers, third parties play a huge role in how your business runs every day. But with that convenience comes growing exposure — from data breaches and sanctions risks to fraud, cyber threats, and compliance failures.

That’s why businesses across Singapore are doubling down on third‑party risk management (TPRM). And at the heart of every strong TPRM program is a clear, well‑structured third‑party risk policy.

To help organisations build one that’s practical, scalable, and aligned with modern regulatory expectations, Dun & Bradstreet Singapore has launched a new whitepaper: “How to Create an Effective Third‑Party Risk Policy.”

If you work in compliance, procurement, finance, risk, or operations, this guide is a must‑read.

Why Third‑Party Risk Management Matters Today

Third‑party relationships are becoming more complex — and so are the risks. Many businesses still rely on manual due diligence, inconsistent screening processes, or scattered compliance checks. Without a proper TPRM policy, even a simple vendor onboarding can lead to:

• Hidden sanctions or PEP links
• Weak cybersecurity practices
• Data protection lapses (PDPA/GDPR/PIPL)
• Corruption or bribery exposure
• Supply chain disruptions
• Reputational damage

A strong policy gives your teams a shared, consistent playbook. Instead of relying on guesswork or last‑minute escalations, everyone understands what risks to check, what criteria to evaluate, and when to escalate a concern.

This doesn’t just improve compliance — it speeds up decision‑making across the organisation.

Key Insights from the Whitepaper

⭐ 1. How to Identify and Prioritise Key Third‑Party Risks

Businesses need clarity on which risks matter most — whether it’s cyber risk, regulatory compliance, supplier stability, sustainability issues, financial exposure, or third-party risks.

The whitepaper explains how to define your risk appetite, align it with business goals, and build proportional controls to mitigate third-party risks.

⭐ 2. A Simple Framework for Evaluating Third Parties

D&B outlines a practical framework built on three essential pillars:

• Legitimacy – Are they a real, verified entity?
• Stability – Are they financially and operationally sound?
• Honesty – Are they ethical, compliant, and free from red flags?

This structure helps organisations standardise due diligence and reduce blind spots.

⭐ 3. How to Operationalise Your Third‑Party Risk Policy

A policy works only when people actually use it.

The whitepaper covers how to embed your risk management program across the business through best practice guidelines.

• Leadership alignment
• Clear communication
• Purpose‑built training
• Cross‑functional coordination
• Automation using modern risk analytics tools

⭐ 4. Keeping Your Policy Current and Effective

Regulations evolve. Risk landscapes shift. New vulnerabilities emerge, highlighting the need for effective third-party risk management.

The guide walks through how to establish predictable review cycles with SMEs, auditors, and risk owners — ensuring your TPRM policy stays relevant and defensible.

If your organisation wants to strengthen its compliance posture, reduce vendor‑related risks, and modernise due diligence workflows, this guide is for you.

👉 Download the Full Whitepaper