In today's interconnected business environment, Enterprise Risk Management needs to encompass extended Enterprise Risk Management.
Going beyond due diligence reviews that take place when you onboard a vendor, the ongoing oversight of third-party providers and supply chain partners that extend your enterprise is expected as part of good risk management.
With increasing regulatory requirements expected, such as the FDIC's proposed interagency guidance on third-party risk and NCUA's desire to gain authority over third-party vendors and service providers, it's also becoming an essential part of compliance.
However, it's not easy. We have less influence over and visibility into our vendors as separate legal entities – yet what they do and the risks they experience can be a major source of risk for your own organization.
Our webinar features Protecht’s Chief Research and Content Officer, David Tattam and Vice President, North America, Terence Lee. We'll provide you with an overview of vendor risk management’s drivers and benefits and illustrate how to implement your organization’s VRM program.