How to Mitigate and Manage Third-Party Risks: Leveraging Tools and Best Practices
Third parties are vital in boosting business efficiencies and growth strategies. The threats associated with third parties (such as potential regulatory scrutiny, poor data security, overreliance on third-party safeguards, and service interruptions) have also become rampant, which, if not mitigated, could severely hamper business continuity. Thus, the third-party risk management (TPRM) program is taking on greater significance.
This webcast provided a comprehensive discussion on how to manage third-party risks. Topics included notable updates with third-party risk management, regulatory and enforcement trends, and critical issues and pitfalls.