FCC has recently implemented an enhanced program to assess and manage the associated risk exposure when engaging with both existing and prospective third parties. FCC leverages ProcessUnity to support the end-to-end assessment of third parties on both an inherent residual basis. Risks are scored at a domain level and aggregated at the service level overall to drive subsequent due diligence. One important component of this program is the assessment of the financial viability domain for our third-party service providers. It is estimated that we will require approximately 40-50 financial viability assessments annually, inclusive of both privately held and publicly traded companies.
While not explicitly required, FCC’s preference is to provide a singular view of third-party risk for a given service provider. For this reason, proponents should articulate existing capabilities to connect financial viability assessment outputs into our third-party risk management (TPRM) platform, ProcessUnity as applicable.
Through this competitive process, FCC is seeking assistance with the achievement of the following outcomes:
1) the execution of financial viability assessments as an outsourced (managed) service
2) support FCC in the development of a methodology to guide and inform actions and recommendations the organization would take as an outcome of a financial viability assessment.
Proponents may submit a proposal in response to one or both requirements detailed in this request..
Bidding and Documents are available on http://www.merx.com. Fees may apply; See https://www.merx.com/public/pricing for more information.
