Blog

Third Party Risk - A Unique Kind of Operational Risk

Third party risk management is on a journey. A journey that is being accelerated and guided by increased regulatory attention.

Read More

Topics: operational risk, third party risk, risk-scoring, enterprise risk, performance scoring, third party relationships, reputational risk, regulatory risk, regulatory compliance, risk and compliance, supplier risk, Financial Services, vendor risk, occ compliance, Risk Management Framework, performance management program, third party supplier

Third party scorecards: Making an improved culture of collaboration a reality

Scorecards that measure the performance of suppliers and vendors that a company contracts with have been a business tool embraced by procurement for some time now.

However, there’s an evolution underway. Increasingly businesses are recognizing that a holistic third party scorecard that also embeds risk and compliance metrics, can not only help drive continuous improvements in vendor performance, but can also help reduce the risk that third party engagements may bring to the enterprise. What’s more, scorecards can also be leveraged as a collaborative tool to help raise the collective bar of the third party ecosystem – especially in areas such as IT security.  Operational risk, Information Security and Compliance are all now stepping up to the scorecard plate.

Read More

Topics: third party risk, risk-scoring, performance scoring, third party relationships, reputational risk, organization risk, regulatory risk, regulatory compliance, data privacy, Data Security & Privacy, information security, risk and compliance

Empowered Third Party Due Diligence: Aravo and Dow Jones Risk & Compliance

With continued bribery and corruption enforcement actions high on the agenda of the regulators, companies should be looking to raise the bar on the due diligence of their third parties, both at onboarding and as part of a continuous monitoring process.

Read More

Topics: third party risk management, Dow Jones, due diligence, risk and compliance, Anti-Bribery and Anti-Corruption, regulatory risk, governance, ABAC, audit, workflows, risk-scoring, reporting

What do I need to ask when buying a Third Party Risk Management (TPRM) solution?

Third party risk management is a complex discipline, that combined with the scale, complexity, and change dynamics of any Global 2000 organization, can often lead to false starts with technology implementations.

It’s important to get enterprise software purchase decisions right – they are the fulcrum of successful third party risk programs for the business, they impact on the adoption and performance of many internal users across the enterprise, and they can have an impact on the careers of those selecting them.

DOWNLOAD THE BUYER'S GUIDE

Read More

Topics: third party risk management, tprm, aravo, risk and compliance, risk mitigation, Anti-Bribery and Anti-Corruption, FCPA, OCC, GDPR, Conflict Minerals, ABAC, sustainable procurement, Data Security & Privacy, Registration & Qualification, General Data Protection Regulation, regulatory risk

Sustainable Procurement - Survey Shows Progress Still To Be Made

Sustainability and corporate social responsibility (CSR) are now important or critically important items on the supply chain agendas of organizations around the world, according to a new survey. However, organizations need to continue to drive improvement in the implementation of their sustainability/CSR programs to ensure risks and compliance are managed, and brand reputation protected.

Read More

Topics: procurement, sustainability, corporate resonsibility, corporate social responsibility, csr, risk management, compliance, brand reputation, ecovadis, hec, risk mitigation, board of directors, sustainable procurement, SP program, global supply chain, governance, Responsible Sourcing, third party risk management, reputational risk, compliance risk, regulatory risk, suppliers