Improving Third-Party Risk Management Programs to Optimize Operations
The aim of this research is to better understand where third-party risk management is positioned within a financial organization, and to what extent the associated risks are managed and assessed.
By understanding organizational structures and level of oversight, correlations can be drawn to identify effective practices and ways to optimize processes and improve overall management of third-party and operational risk.
Key questions include:
- – What department(s) are tasked with assessing third parties?
- – How is your organization positioned and equipped to mitigate risk?
- – What controls are your organization prepared to implement?
- – How do you use technology to optimize your third-party risk program?
The research and survey looks to provide insight across the industry and identify success factors from peers to benchmark and understand progress and review optimization strategies.