Determining the Risk of Critical Third Parties
Date: Tuesday, March 7, 2023
Time: 11:00am-12:00pm ET
Speakers:
✔ Charlie Miller, Senior Advisor, Shared Assessments
✔ Colleen Milazzo, SVP of Third Party Risk Software Products, Shared Assessments
✔ Hannah Ford, Risk Manager - Supply & Third Party Risk Intelligence, Supply Wisdom
Description:
Leveraging third parties can lead to significant efficiencies, but it is not without risk. This session will explore criteria used to establish inherent risk and provide approaches for assessing a critical third-party relationship.
Panelists will share the results of a recent Shared Assessments Critical Third-Party Survey covering TPRM processes including: Risk Tiering Techniques; Inherent Risk Criteria; Critical Third Party Criteria; Number of Critical Third Parties and Assessment Timeframe Approvals. Additionally, panelists will highlight work being done by Shared Assessments members on an Inherent Risk Product.
Note: You can review our Corporate Due Diligence blog and download our responses to regulation enhancements requested by:
- • Prudential Regulatory Authority - Operational Resilience: Critical Third Parties to the UK Financial Sector;
- • NYS- Department of Financial Services - Cybersecurity Requirements;
- • Security Exchange Commission - Rule on Outsourcing by Investment Advisors
Resources :