Register a fourth-nth party
Register fourth-nth parties after collecting responses from a third party by using the fourth-party registration questionnaire in the Third-party Risk Management application. With the fourth-party registration questionnaire, you can create multiple fourth-nth party records at a time.
Before you begin
Role required: sn_vdr_risk_asmt.vendor_risk_assessor
Procedure
Navigate to the Fourth-party templates tab of a new or active external assessment.
Assign a Fourth-party registration questionnaire to the external assessment by selecting Add and then selecting a questionnaire.
The questionnaire you are using for fourth-party registration can only be sent to third parties.
You can use the fourth-party registration questionnaire that is included as part of the base system or a custom questionnaire that has the Fourth-party template classification and has a Fourth-party information metric category added.
The third party must answer the first two questions in each Fourth-party information section. Don’t alter the first eight questions of each section because they’re used for mapping the responses to the new fourth-party record.
For more information on assessments, see Assessing your third-party risk.
When you receive responses from the third-party contact, navigate to the Downstream Suppliers tab of the assessment and review the fourth-nth party information that was collected.
Review each fourth-nth party in the list and confirm if that party exists and select Create new fourth-party if it doesn’t.
| Field | Description |
|---|---|
| Name | Name of the fourth-nth party that is associated with the record. |
| URL | URL for the fourth-nth party. |
| Downstream supplier | Fourth party record that is used after the fourth-nth party is approved and becomes active. You can enter an existing fourth-nth party by double-clicking \(or using the keyboard shortcut\) the downstream supplier field and selecting the magnifying glass icon Image omitted: magnifying-glass-outline-24.svg This action helps you view existing records to avoid creating duplicate records.. |
| DUNS number | Unique numeric identifier for the single business entity. A DUNS number isn’t legally required for a business. |
| Status | Current state in the registration process: In review, Active, or Ignored. |
Select Approve to make each fourth-party record active or select Ignore to keep the record inactive.
Once a fourth-nth party record is active, it’s fully registered and available for use in your risk management program.
For more information on fourth-nth parties, see Monitoring your fourth-nth parties.