OKR template to implement robust third-party risk management system

The OKR focuses on implementing a robust third-party risk management system. The primary objectives include achieving 95% completion of resilience testing and contingency planning for identified risks. This will be done by identifying, testing, and devising contingency plans for each identified risk in operational processes.

A key part of the OKR involves developing a third-party risk grading system, which will potentially impact 80% of all third-party relationships. This system would be based on key risk factors identified in these relationships. Once developed, the grading system will be implemented and communicated to relevant parties.

The final objective of the OKR is to identify and document all third-party relationships and their inherent risks, striving for 100% coverage. This would involve cataloging all existing third-party relationships, assessing and documenting each relationship's risk exposure, and creating a comprehensive document of these findings.

Taken together, these objectives aim to provide a robust, well-documented and comprehensive risk management system. This will preside over all third-party relations, ensuring a comprehensive understanding, grading, and management of inherent risks.