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Assessing and Mitigating ESG Risks in the Third-Party Supply Chain

An Effective ESG Risk Assessment Framework is Critical to Business Success In recent months emerging governmental and regulatory disclosure requirements, as well as societal attention to diversity, inclusion and equity, have accelerated the need to successfully incorporate Environmental, Social and Governance (ESG) factors into your Procurement and Third-Party risk assurance programs. Will simply adding ESG…

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Managed Security and the 3rd Party Cyber Risk Opportunity

The issue of cyber risk has grown in importance over the last few years. But it’s not enough to consider the cyber security of your organisation by traditional boundaries. You need to consider the security of your whole business ecosystem, including your third-party suppliers and vendors. This latest report report from the Managed Security Forum…

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What the European Banking Authority Guidelines Mean for Supplier Risk Management

Using the EBA guidelines to streamline your supplier risk management program. Simply stated, financial  services faces enormous risk in an age when attack surfaces are expanding exponentially. All too often do these risks, and the regulations introduced to mitigate them, become barriers to innovation. To help pave the way towards better risk management, the European…

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Webinar Replay: The Emerging ESG Regulatory Challenge for Third-Party Risk Management

ESG Risk & Compliance – The Emerging Regulatory Challenge for TPRM Organisations are seeing an ever-increasing risk and impact from localised events that are not only disrupting the resilience of their global supply chains but posing significant risk to the reputation of their businesses. Meanwhile governments and regulators are cranking up the heat with targets…

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What is Fourth Party Risk and How to Manage it

As we’ve seen in recent events such as the SolarWinds hack, third-party risk poses a serious threat to business continuity. What the incident also demonstrated is that fourth party risk, or the risk posed by a contracted vendor’s third parties, can equally threaten data security and operations. Your organisation may have integrated a robust third party risk management program (TPRM) – but what if keeping an eye on your…

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Kaseya – The early indicators of trouble

From reports of numerous former employees, Kaseya leaders knew of and failed to address cybersecurity concerns going back to 2017 (Kaseya Failed to Address Security Before the Hack). Unfortunately, as a result, 1500 managed service providers and possibly more, experienced significant disruptions due to the ransomware attack. For those 1500+ companies, the million-dollar, or in…

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A Deep Dive into the Digital Operational Resilience Act (DORA)

The European Union (EU) will soon launch a new regulation that will require banks and firms in the global financial industry to mature their third-party risk management programs to include set cybersecurity requirements – which will also apply to the critical Information and Communication Technology (ICT) service providers they are working with.  The timeframe for…

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Strategies for Building Resilience

Resilience is a watchword for every risk management team and every governing board. Resilience represents the ability of entities to avoid, prevent, adapt, respond to, recover from, and learn from operational disruptions.[i] While ensuring business continuity is a key aspect of business resilience, resilience and continuity are related but are not the same.[ii] Understanding your own organisation’s…

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Webinar Replay: Best Practices for Third-Party Risk Program Automation Webinar

What does a best-practice program for Third-Party Risk Management look like? While every organisation has its own unique risk appetite, there are base requirements, processes and goals that all vendor-risk managers need to incorporate into their initiatives to eliminate as much risk as possible. Replay our latest webinar with ProcessUnity and see how proven TPRM…

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New Supply Chain Cybersecurity Report – Ransomware Risk: Automotive Manufacturing in 2021

Today, change in the automotive industry is driven by technology. Automakers and parts manufacturers have shifted their engineering focus to connectivity, becoming more strategic with key technology investments. However, automotive companies still fall behind other industries in terms of digital maturity and are struggling to move forward with a digital transformation plan. In a recent…

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