Managing third party activities in disconnected silos leads the organization to inevitable failure. Without a coordinated third party management strategy the organization and its various departments never see the big picture and fail to put third party management in the context of business strategy, objectives, and performance, resulting in complexity, redundancy, and failure. The organization is not thinking about how processes can be designed to meet a range of third party needs. An ad hoc approach to third party management results in poor visibility across the organization, because there is no framework or architecture for managing risk and compliance as an integrated part of business. When the organization approaches third party management in scattered silos that do not collaborate with each other, there is no possibility to be intelligent about third party performance, risk management, and compliance and understand its impact on the organization.
A haphazard department and document centric approach for third party management compounds the problem and does not solve it. It is time for organizations to step back and define a cross-functional and coordinated strategy and team to define and govern third party relationships. Organizations need to wipe the slate clean and approach third party management by design with an integrated strategy, process, and architecture to manage the ecosystem of third party relationships with real-time information about third party performance, risk, and compliance and how it impacts the organization.
Join Michael Rasmussen, GRC Economist and Pundit, GRC 20/20 for a practical workshop session on effective third party management – drawn from Michael’s vast experience of helping companies across the world understand and enable best practice approaches.
Third parties are strategically important to business strategy today, yet with their opportunity comes risk. During this workshop, you will learn how you can integrate strategy, process, and architecture to better manage third party relationships, and drive better efficiency, effectiveness, and agility in your third party programs. This workshop provides a blueprint for attendees on effective third party management in a dynamic business, regulatory, and risk environment. Attendees will learn third party management governance and process that can be applied across the organization at either an enterprise or a department level. Learning is done through lectures, collaboration with peers, and workshop tasks.
Bring A Peer
There are many stakeholders across the organization that are involved in third party risk management, and collaboration is key. We encourage attendees to bring a peer from their company. If you are a senior compliance professional, we encourage you to invite a peer from procurement or Information Security. And vice versa.
Attendees will take back to their organization approaches to address:
Part 1: Third Party Management by DesignWhy Third Party Management Matters
Aravo was founded in 2000 to bring order to the complex and dynamic world of enterprise Third Party Management. We deliver market-leading SaaS solutions for managing third party compliance and risk that help Global 2000 companies protect their brand, build customer trust and elevate business performance.
As a market pioneer, Aravo has defined best practices for Third Party Management for over fifteen years. Working with companies with the most complex and globally dispersed third party networks in the world, we have assembled impressive domain expertise on best practice processes and implementations, and are proven to scale. Accenture, BHP, Cisco, GE, Johnson & Johnson, Unilever and Visa, among others, all count on Aravo’s Enterprise Platform to achieve global continuous insight into third party risk and compliance. With our combination of technical innovation and deep domain expertise, Aravo delivers unrivaled configurability, regulatory agility, ease-of-use, high performance, and scalability.
As a company, we are passionate about helping companies eliminate corruption and social injustice from their extended enterprise.
Dave Rusher has over 20 years’ experience working with large global enterprises to find the right solutions to complex business problems. His experience in the enterprise software industry spans across most functional areas of business including engineering, product management, product marketing, solutions consulting and executive leadership. As Aravo Solution’s Senior Vice President of Product Strategy and Alliances, Dave works closely with Global 2000 customers to define and deliver best-in-class enterprise third party risk management (TPRM), anti-bribery & corruption, registration & qualification, data information and security, and responsible sourcing applications, that can scale to the business size, business complexity and business change requirements of large multinationals. He is also responsible for partner alliances, which has included pioneering work in building community/utilities TPRM applications for the defense and financial services industries in the UK.
Dave particularly enjoys the relationship-building, problem-solving, teamwork and accountability that comes with his experience of working with compliance, risk and procurement professionals.