When reviewing the progress of your third parties throughout the lifecycle, users leveraging ROC Managed Services can quickly understand the vendor’s stage by referencing the Entity Status. The table below outlines the Entity Statuses used by the Risk Operations Center, along with their definitions.
Serial |
Status |
Definition |
1 |
ROC: Awaiting Launch | The Third Party has started the onboarding process and is awaiting assessment launch by the ROC. |
2 |
ROC: Launched | ROC have sent an assessment to the Third Party. |
3 |
ROC: Sharing Request Pending | ROC has requested approval from the Third Party to share their completed assessment. |
4 |
ROC: In Progress | Third Party has started to complete the assessment. |
5 |
ROC: Submitted | Third Party submitted the completed assessment for review. |
6 |
ROC: Under Review | ROC are reviewing the assessment and processing through the rejection workflow (if applicable). |
7 |
ROC: Analysis Complete | ROC completed their analysis, approved the assessment, and uploaded an Executive Analysis Report. |
8 |
ROC: Remediation Initiated | ROC launched the remediation process with the Third Party. |
9 |
ROC: Remediation In Progress | The Third Party has started to engage in the remediation process by commenting on Risk Items. |
10 |
ROC: Remediation Cycle Ended | The 3-month ROC managed remediation period has ended but actions remain outstanding. |
11 |
ROC: Remediation Complete | All risks in scope for ROC management have been brought to closure and the remediation process is complete. |
If a vendor becomes unresponsive at any stage of the third-party lifecycle, the ROC will create an Escalation Task and you’ll receive a notification. Learn more.
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