This tender seeks a qualified service provider to deliver a comprehensive Third-Party Risk Management solution, including support and maintenance for three years. Key requirements include automation, risk assessment, and compliance with regulatory standards.
The Road Accident Fund is inviting proposals for a Third-Party Risk Management (TPRM) solution aimed at enhancing its risk management capabilities. The selected service provider will be responsible for designing, implementing, and operationalizing a robust TPRM framework that encompasses the entire lifecycle of third-party relationships, including onboarding, due diligence, risk assessment, monitoring, and offboarding. The solution must support automation, integration with existing systems, and provide real-time visibility into third-party risks, ensuring compliance with applicable regulations such as the Protection of Personal Information Act (POPIA).
The TPRM solution should facilitate effective governance and accountability across business units while preventing security breaches and ensuring business continuity. Bidders are expected to provide a technology-enabled platform that allows for scalable reporting, risk classification, and ongoing monitoring of third-party performance. The successful implementation will not only strengthen the RAF's risk management posture but also enhance stakeholder trust and operational resilience, ultimately leading to improved service delivery and compliance with industry best practices.
This tender is suitable for businesses specializing in risk management solutions, compliance technology, and consulting services that have experience in implementing third-party risk frameworks and can demonstrate a track record of successful project delivery in similar environments.
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