Third-Party Risk Monitoring Solution

The Vendor is required to provide third-party risk monitoring solution shall provide timely, actionable intelligence regarding financial, operational, regulatory, legal, reputational, geopolitical, environmental, ESG, and cybersecurity risks that could impact the university's operations, compliance obligations, reputation, or resilience.
- Continuous risk monitoring
• Financial stability, bankruptcy, insolvency, and credit deterioration
• Operational disruptions and business continuity risks
• Mergers, acquisitions, divestitures, and significant corporate events
• Litigation, regulatory actions, sanctions, and legal proceedings
• Cybersecurity incidents, vulnerabilities, ransomware events, and data breaches
• Reputational concerns, adverse media coverage, and public controversies
• Geopolitical, environmental, and ESG-related risks
- Risk intelligence and alerting
• Automated monitoring and event detection
• Near real-time alerts and notifications for material risk events
• Configurable risk thresholds and risk tolerance settings
• Customizable notifications by vendor, service, risk category, event type, and severity level
• Escalation workflows for critical events
• Aggregation of intelligence from multiple sources, including public records, regulatory filings, cybersecurity
• Intelligence, adverse media, and other relevant risk data sources
- Risk assessment and visibility
• Configurable risk scoring and risk rating methodologies
• Vendor risk profiles and historical trend analysis
• Visibility into vendor dependencies and concentration risk
• Visibility into fourth-party relationships where available
• Support for ongoing due diligence and continuous monitoring throughout the vendor lifecycle
• Risk categorization by vendor, service, business function, and risk domain
- Reporting and analytics
• Executive and operational dashboards
• Standard and ad hoc reporting capabilities
• Historical risk tracking and trend analysis
• Exportable reports and data extracts
• Metrics supporting governance, compliance, audit, and oversight activities
- Integration and administration
• Role-based access controls
• Audit logging and reporting capabilities
• Configurable workflows and notification settings
• API and integration capabilities with university systems and third-party platforms
• Cloud-based deployment with appropriate security, privacy, and compliance controls.