Third-party risk management: control, culture, and competitive advantage

The supplier risk landscape for corporates today is shaped by sanctions, ESG commitments, and potential for reputational harm - which is just the start. But amid all this, there is competitive advantage to be found through optimized third-party risk management.

No stranger to the topic is Vincent Scales, Director of Third-party Risk Management at Verizon and Chairman of the Board for the Third-party Risk Association. After participating in a primary research study conducted by Moody’s Analytics, Vincent joins this episode of KYC Decoded, bringing the findings of the research to life.

Also joining is Enrico Aresu, Moody’s Analytics Compliance and Financial Crime Practice Lead for the DACH region and central eastern Europe.

Highlights of this engaging conversation include:

• Context for increased commitment to TPRM
• Controllable vs. uncontrollable risk in supply chains
• The difference a compliance culture can make
• Gaining advantage with Governance Risk and Compliance (GRC) platforms

For additional resources, check out:

• The rising tide of third-party risk management report from Moody’s Analytics, in partnership with Context Consulting
• Moody’s Analytics third-party risk management insights
• Third Party Risk Association (TPRA) website and LinkedIn profile
• Shared Assessments website and its Standardized Information Gathering (SIG) Questionnaire

To find out how Moody’s Analytics can help elevate third-party risk management and supplier due diligence in your organization, visit our website and get in touch any time.