Third-Party Risk Management (TPRM) becomes exponentially more complex in multinational environments, where regulatory standards, operating models, and team cultures vary widely. For a leading global insurer, fragmented processes and region-specific approaches created inefficiencies and risk blind spots. Projective Group led the transformation: shifting from a tech-first rollout to a globally aligned TPRM framework, establishing a consistent operating model across jurisdictions, and enabling smarter, scalable risk oversight through both process and platform.
The client
A leading multinational insurance provider, headquartered in the United States, operating across multiple regions. The company offers a mix of retail insurance, specialty insurance, and surety services.
The challenge
While the US-based Third-Party Risk Management (TPRM) office had adopted the Aravo system to manage vendor risk, global teams continued to rely on manual processes, including SharePoint-based contract storage. The client lacked a scalable, consistent global delivery model for TPRM, and regional differences in regulatory requirements, team structures, and culture created additional complexity.
Our approach
Operating as a Scrum Master and Program Manager, our consultant led the delivery from the UK, coordinating with risk, procurement, legal, and compliance teams globally. Key actions included:
- Re-aligning the program from a tech-led rollout to a framework-first strategy
- Establishing a global TPRM framework and target operating model
- Ensuring alignment with regional regulatory standards and business practices
- Facilitating executive-level governance through a senior SteerCo, including the Global CIO, CRO, and regional Chief Risk Officers
Key results
- Global TPRM framework that standardises third-party risk practices across all regions
- Improved visibility and consistency in vendor risk assessments across jurisdictions
- A defined process supporting key risk areas including data privacy, IT security, ESG, sustainability, and financial crime
- Ongoing implementation of a unified technology platform (Aravo) to support automation, workflow management, and contract storage
About Projective Group
Established in 2006, Projective Group is a leading Financial Services change specialist.
We are recognised within the industry as a complete solutions provider, partnering with clients in Financial Services to provide resolutions that are both holistic and pragmatic. We have evolved to become a trusted partner for companies that want to thrive and prosper in an ever-changing Financial Services landscape.
