Taking Control of Third Party Risks: Strategies to Overcome Challenges

Date: Wednesday, September 14, 2016 | Time: 8 am PDT | 11 am EDT

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Driven by increased focus from regulatory bodies, volatile consumer demands and the need to manage costs, organizations around the world have growing interest in outsourcing various processes, services, and materials. As the web of third parties grows across geographies, organizations often find it difficult to not only manage large volume of third parties, but also the associated risk exposure. Recent third party related incidents like data breaches, counterfeits, non-compliance to FCPA, Anti-bribery, bankruptcy, and many others have caused significant financial losses, reputational damage and fines to the organizations associated with them.

Often, third parties give indications of trouble, but organizations are unable to identify and gain control over third party risks due to unstructured risk monitoring processes, fragmented information and lack of resources to keep track of third parties.

As the impact of unknown third party risks can be massive, organizations need to adopt definitive strategies and technology to quickly identify third party risk trends and address them with appropriate tactics for risk mitigation.

In this webinar, experts will provide insights on how third-parties and the associated risks can be mitigated with an effective TPRM program and how third party risk information can be tied to enterprise risk and the overall business objectives.

This webinar will help:

  • Recognize the extent of third-party network and risk exposure
  • Develop a TPRM program in line with the complexity and nature of third-party relationships
  • Understand the relevance of validating third parties with external data sources
  • Tie third-party risk management into enterprise risk
  • Leverage technology to enable effective and comprehensive TPRM program
Bob Forshay
Principal & Consultant
Transformance Advisors

Mr. Forshay is principal of Mastermind Group and a consultant with Transformance Advisors. He is a Certified Lean Master in Supply Chain and Operations Management, expert at implementing Lean-Six Sigma supply chain solutions for business leaders seeking competitive advantage. Holder of multiple certifications from APICS & ISCEA. He teaches business leaders and Lean Six Sigma Black Belts how to structure for the WIN. His leadership success comes from his 30+ years of experience as a change agent. Mr. Forshay helps you learn how to transform your supply chain management into a core competency creating competitive advantage. He is a frequent speaker for APICS, ISM, ASQ, SME, ISCEA, PMI, SHRM and others.

Swapnil Srivastav
Marketing Manager
MetricStream

Ms. Srivastav comes with over 6 plus years of experience in Supplier Governance. She is currently the Marketing Manager for MetricStream.

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