Ten years on – and we are still struggling!
The IACCM report on Third Party Risk Management (TPRM) shows many in the Banking, Financial Service, Insurance (BFSI) community are making only limited progress. In fact, other unregulated industries are moving faster.
Why might that be? Perhaps because Third Party Risk Management is seen as an unwelcome imposition and viewed only in the context of ‘risk’. That may be why it is proving hard to gain sustained executive attention – recent IACCM research showed that ‘preventism’ is a major turn-off for senior executives. In other industries, the drivers for gaining supply chain and ecosystem visibility are often very different – for example, cost reduction, innovation, inclusiveness and social value.
So has BFSI got this wrong? To drive increased regulatory compliance, do we need to change our emphasis and start seeing Third Party Risk Management as a tangible business benefit, rather than an unwelcome obligation?
IACCM's Third Party Risk Management (TPRM) report is just one example of the insightful research provided by IACCM. Recent studies include investigations into ‘as-a-Service’ contracting (in particular Cloud and IT services); leading practices in post-award contract management and governance; and an in-depth study into managing supply ecosystems.
FIND OUT MORE Join us for a fast-paced webinar on 11th March to discover more and discuss impact and deployment within BFSI.
- 7 am Seattle
- 10 am New York / Caracas / Santo Domingo
- 3 pm London / Lagos / Lisbon
- 5 pm Paris / Cape Town
- 6 pm Helsinki / Amman / Moscow / Doha
- 8 pm Dubai
- 9 pm Mumbai
- Midnight Perth / Singapore / Beijing
Our Experts: Tim Cummins, Ted Botzum, Adrian Furner and Paula Doyle.