Vendor vulnerabilities continue to plague many industries and teams are struggling to manage the associated risk volatility. A strong third-party risk management (TPRM) program can help alleviate the impact of related risks. The building blocks of a successful program include a sturdy workflow for vendor onboarding along with ongoing monitoring of each vendor. Daniel Kinsella of Deloitte & Touche LLP moderates a conversation with Arlene Worsley of Teck Resources Ltd. and Myles Gold of OpenDealerExchange about how their organizations tackle third-party risk management, including:

1. Trends and approaches for handling third-party risk, including taking a risk-based rather than a compliance- or maturity-based approach.

2. The importance of understanding your third-party ecosystem — it’s larger than you might think.

3. Showcasing the value of your TPRM program with quantitative risk analysis and enabling the business to make risk-informed decisions.

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