How to make third-party risk management less painful
In this Supply Management Insider and Dun & Bradstreet webinar, we will talk about managing third-party risk and protecting your organisation from reputational and financial damage.
Businesses need to manage third-party risk to protect their organisation from reputational and financial damage, by minimising exposure to bribery and corruption. Procurement, Compliance and Legal professionals are increasingly required to implement processes and systems that assess risk when onboarding, so teams can focus on the greatest threats among vendors and third-parties. With business pressure to move quickly and efficiently, the onboarding process is a key area of opportunity to achieve or lose competitive advantage. However, an effective process has many important steps - including verifying third parties, determining risk, and creating visibility for your stakeholders – and is often a manual process.
During this webinar, Chris Laws and Neil Isherwood from Dun & Bradstreet will address these pain points, and provide practical recommendations for faster and more efficient onboarding and successfully managing third party risk.
Attendees will learn how to:
- Find ways to segment your portfolio by Risk, allowing you to easily onboard and manage less risky third-parties, while having time to really scrutinize those that are working in risky industries and/or countries or have shown signs of non-compliant behavior in the past
- Identify business entities, the people connected to the entities and verify that the data supplied on those entities provides a holistic picture
- Leverage automation to assist you with collecting the data you need to manage your third-party risk program
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Chris Laws is Head of Product & Strategy, UK for Dun & Bradstreet, the global commercial data, analytics and insights for business company. Chris has 20 years’ experience in the information services industry and for the past five years has been instrumental in leading product innovation for Dun & Bradstreet’s newest & fastest growing segment; Third-Party Risk & Compliance. Chris’ focus is on helping organisations to understand risk within their supply base and optimise their supplier onboarding process through use of technology and data services. Chris has technology background and holds an MBA from Henley Management College.
With 20 years experience in the information industry, Neil works with his customers to help them improve their data flow into their organisations using integration, technology and hosted solutions to aid better decision-making and risk mitigation. His most recent experience has been in the financial services industry where he continuously meets and exceeds clients expectations by providing data solutions that enhance customer and supplier due diligence processes.