Collaboration is a term that makes people either cheer or wince. However, today collaboration is essential to be a successful third party risk manager – the discipline has moved well beyond administrative box-ticking. Now, a strong culture of collaboration can help create the right environment to foster TPRM program excellence, and drive real value for organizations.
February 05, 2018 posted by Aravo
Topics: third party risk management, board of directors, board accountability, benchmarking, governance, third party governance, tprm, risk assessment, third party supplier, supplier risk, vendor risk, risk appetite, shared assessments, occ compliance, GDPR, third party risk assessment, standardization programs, gdpr processor, FFIEC, third party risk regulators, regulatory frameworks, internal audit, risk and compliance, third party risk, third party compliance, third party vendor
January 23, 2018 posted by Aravo
Third party risk management (TPRM) could be set to evolve at lightning speed over the next five years, according to Victoria Munoz-Titos, former EMEA, Risk and Control Services at AIG in London. The changes won’t just be accelerated by regulatory demands either. Rather, they will be propelled by a transformation to the way organizations work together, as financial services firms incorporate outsourcing and other types of third party relationships even deeper into their business strategies. Below are the top seven trends that Munoz-Titos sees changing the way firms engage with TPRM and their third-party relationships:
Topics: third party risk management, board of directors, board accountability, benchmarking, governance, third party governance, tprm, risk assessment, third party supplier, supplier risk, vendor risk, risk reporting, risk appetite
July 25, 2017 posted by Aravo
A snapshot of the results of two new audience surveys suggests that the concept of “risk appetite” within the third-party risk management framework is still finding its feet. Attendees at a pair of June New York and London conferences, aimed at the financial services industry’s third party risk professionals, responded very similarly to three key questions.
Topics: third party risk management, risk and compliance, Financial Services, compliance risk, reputational risk, risk management, tprm, event, EMEA, governance, compliance programs, third party risk, risk appetite, survey