Yes, the regulators are pushing for it. But having a foolproof third-party risk management (TPRM) program is not just about compliance.
The increasing reliance of financial institutions on third parties in today’s volatile environment makes it vital to have a strategic and sustained risk management plan in place.
Our new paper, How BFSI Companies in Europe Can Supercharge Third-Party Risk Management, looks at the ways firms can enhance their capabilities and manage risks effectively — by integrating the fragmented TPRM landscape and source-to-pay through aligned strategies and intelligent technology.
It also shares procurement best practices in supplier and risk management with key action points to build resilience.
This paper is a must-read for BFSI leaders looking to establish controls and avoid financial and reputational fallouts from unmanaged risks.