Risk Management Show AI in Risk Management: Revolutionizing regulatory changes affecting TPRM in 2025 with Jag Lamba
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Jan 23, 2025 Jag Lamba, Founder and CEO of Certa.ai, discusses how AI is transforming third-party risk management as we approach 2025. He highlights the upcoming regulatory challenges, including sustainability mandates and anti-bribery laws. Lamba provides insights on successfully leveraging AI for compliance and efficiency, while addressing common misconceptions about AI in this space. He urges risk managers to embrace these advancements for strategic growth and emphasizes the importance of adapting to the evolving landscape of risk management careers.
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Jag's Journey to Certa
- Jag Lamba started as an engineer, then worked at McKinsey and in private equity.
- He founded Certa to solve inefficiencies he saw in inter-company operations, aiming to reduce onboarding times from 3-6 months.
Upcoming Regulatory Changes
- Key regulatory changes affect supply chain resilience and sustainability, with stricter enforcement of existing regulations.
- These include DORA for digital resilience, CSRD and others for sustainability, and increased scrutiny on forced labor and anti-corruption.
Preparing for New Compliance
- Organizations need agility, comprehensiveness, and scalability in their TPRM programs.
- This includes agile teams, processes, and tools; comprehensive systems handling all supply chain matters; and automation for large-scale vendor management.