Founded in 1865, Sun Life is one of Canada’s largest and most well-known financial institutions. While it is most recognized as a life insurance provider, the company also offers a wide range of wealth, asset management, and insurance solutions across the globe.
In response to Canada’s Office of the Superintendent of Financial Institutions (OSFI) Guideline B-10, Sun Life needed to implement a TPRM solution within months. Meeting the aggressive regulatory deadline without deep in-house expertise on the ServiceNow® platform’s TPRM capabilities created urgent pressure on the team.
Sun Life sought guidance from external consultants but found that their recommendations didn’t fully align with the ServiceNow platform’s capabilities. This meant risking rework, delays, and lost momentum. They needed an experienced partner to deliver a fast, efficient, and platform-aligned solution.
NewRocket partnered with Sun Life to ensure a high-speed, high-quality TPRM deployment that met regulatory requirements and drove immediate platform value.
To ensure quality and reduce risk, NewRocket advised against integrating with third-party tools during phase 1. This simplification helped Sun Life meet the aggressive timeline while maintaining platform stability.
NewRocket reconciled recommendations from external consultants with the ServiceNow platform’s actual TPRM capabilities, preventing misalignment and unnecessary rework.
NewRocket led the delivery of the TPRM module, creating an automated, streamlined solution for vendor risk management that business users could immediately adopt.
Through its partnership with NewRocket, Sun Life successfully navigated regulatory pressures and accelerated risk management transformation. Now, they’re experiencing outcomes like:
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“NewRocket’s deep understanding of Third-Party Risk Management was instrumental to the success of our rollout. Their team not only delivered beyond expectations but also guided us in aligning our approach with ServiceNow best practices. It was truly a great experience partnering with NewRocket.”
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