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In today’s hyper-connected digital age, it’s not unusual for medium to large-sized companies to have hundreds, or even thousands, of third-party suppliers.

This can range from product suppliers, to billing processors, to cloud providers, and a variety of different services.

This large volume of suppliers can pose a challenge for Chief Security Information Officers (CISO) to properly manage risk, especially when personal or confidential data is shared.

A Risky Misconception – Understanding Supplier

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Not so long ago, the idea of outsourcing critical business functions or IT systems to a third party supplier would have been off limits for many organisations because of the level of risk involved. However today, the use of third party suppliers has increased exponentially, with many organisations outsourcing even core functions of their business. Why? Outsourcing can be financially attractive, efficient and provide competitive advantage.
 
In delegating key processes to third parties, organisatio
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The 7th Edition Third Party Vendor Risk Management for Financial Institutions Conference will bring together leaders involved in vendor risk management, procurement, data security, and contract management to apply practical strategies to evolve your current third party oversight program. Learn best practices in managerial strategy from industry leaders to streamline third parties with your business goals, ensuring the development of holistic governance strategies. Furthermore, maximize your due

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Interview with Aretina Trepczyk, Vice President, Enterprise Risk Manager at Umpqua Bank

 

The increased regulatory pressures on third party vendor risk have increased focus on this key area of operational risk. And, despite institutions implementing changes to their third party risk strategies, many programs still need to be optimized and enhanced to ensure strong due diligence of vendors and minimize the risk exposure to the enterprise. Institutions need to incorporate their third party risk stra

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