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Balancing Act: How to Successfully Manage the Risks and Opportunities of Third-Party Partners
2016-06-28 @ 1:00 pm - 2:00 pm CDT
- Is your third-party network expanding and becoming more difficult to monitor effectively?
- Are you struggling to define or improve your third-party due diligence?
- Have you been looking for current research and best practices to help you meet these challenges?
Surveys of compliance and risk professionals cite that companies work with on average over 3,800 third-party partners. 62% of surveyed organizations have business models that rely heavily on vendors. Additionally, the sheer volume and complexity of laws and regulations that hold companies accountable for the actions of third-party partners continues to mount. Whether in relation to bribery and corruption, data privacy, conflict minerals, AML or other areas, regulators are pursuing investigations of compliance breaches and enforcement actions more aggressively than ever. With sanctions and fines for violations becoming much more severe, a proactive approach to developing and supporting third-party risk processes and programs is critical for companies to protect their brands, interests, and reputations.
Objectives of this webinar include:
- How to effectively managing due diligence and third-party risk.
- Understand the challenges and pitfalls of managing third-party risk
- How to achieve success capitalizing on third-party relationships while maintaining compliance
- How to leverage tools and risk data to prioritize and target due diligence efforts
- Facilitate ongoing monitoring of third-party partners.
Michael Rasmussen – The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 23+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures, and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” — being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertise needed to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments.