Intro to Third-Party Risk Management
In this webinar, the speaker talked about what third party risks are, how to properly manage those risks, as well as why it should be incorporated into businesses. The speaker also discussed the upward trends in which TPRM is used, for example enhancing procurement and supply chains to make better decisions. Also, the speaker discussed risks that come with using third parties such as operational risk, cyber risk, reputations risk, and much more. As far as managing these risks, some things the speaker mentioned were to have governance, policies, risk models, and third party reports to be able to monitor everything going on.