Third-Party Risk Management is a part of risk management that focuses on identifying and reducing risks relating to the use of third parties (vendors, suppliers, partners, contractors, or service providers).
“More than 80% of legal and compliance leaders tell us that third-party risks were identified after initial onboarding and due diligence, suggesting traditional due diligence methods in risk management policy fail to capture new and evolving risks.” (Gartner)
Managing the risks associated with these networks in advance, while not hindering business speed is a critical challenge for leaders: if not managed, third parties risks can expose the company to penalties, legal consequences, and reputational damages.
It is therefore essential to define a Third Party Risk Management (TPRM) strategy by design, including structured processes and periodic control processes, that allow companies to successfully identify and manage risks.
With our partner OneTrust we will organize, on march, 30, a 1-hour morning session to illustrate:
What TPRM is and how to manage the complexity
How to classify and prioritize risks
TPRM scalability and automation
Best Practices to keep the third-party evaluation process effective and measurable
Are you interested in discovering more?
Click here to get insights and register for this italian webinar.
