Blog

Getting the Risk Data Right – TPRM’s Biggest Challenge

In third party risk, issues around data – data security and data privacy - often hold center court. In the wake of the recent onslaught of cyber attacks and data breaches, as well as the enhanced and new regulatory efforts to contain them, third party risk managers can often find themselves spending a lot of time talking about data.

But are they focusing on one aspect of the businesses’ data, at the expense of improving their own? Today, third party risk management (TPRM) executives are being asked to help shape their corporate data strategies, while their approach to their own risk data can be painfully out-of-date.

Two recent surveys show that while vendor risk issues may be a high priority for organizations’ finance teams, the way data is used within the risk management discipline falls considerably behind how other parts of the business may be using data to help deliver on the firm’s strategic goals.

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Topics: third party risk management, third party governance, tprm, supplier risk, vendor risk, cyber risk, cybersecurity regulation, cyber resiliance, cybersecurity, data quality checks, vendor database, compliance data, risk-scoring, internal audit, regulation, Data Security & Privacy, data risk

Bribery & Corruption – A growing focus for governments and companies

Although the way firms and individuals are being prosecuted for bribery and corruption continues to evolve, the overall direction of travel is towards increased responsibility for the prevention of these activities. Most FCPA actions (83%) of 2017 involved bribery schemes that relied on third-party intermediaries such as agents, consultants, or contractors.  And yet according to a recent survey, organizations are not responding fast enough by implementing the right policies and risk assessments.  

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Topics: third party risk management, tprm, supplier risk, vendor risk, risk and compliance, compliance risk, Anti-Bribery and Anti-Corruption, uk bribery, Bribery, Corruption, regulation