Extended Enterprise Risk Management
Identify, quantify and mitigate your exposure to third party risk
Hong Kong | 11 October 2018
Are your third party relationships increasing your risk exposure?
Companies in all sectors increasingly rely on a wide range of third parties, such as outsourcers, licensees, joint ventures, suppliers and distributors, in order to penetrate new markets, innovate or reduce costs, and thereby gain competitive advantage, build brand presence or fuel growth.
This trend results in nearly all organizations having complex "extended enterprises" with low inherent visibility into the operations and performance of their third parties and hence inadequate understanding of the risks associated with these relationships.
When combined with the ineffective contracts, systems, processes and controls often found in third party arrangements, it is obvious why many high-profile corporate scandals, including those relating to cyber security breaches, bribery and corruption as well as business continuity issues, often have third party issues as their root cause.
Essentially, the risks of an organization's third parties have become its own risks, leading to significant additional reputational, operating, financial and legal exposure. Thus, for your organization:
- Do you really know who all your third parties are?
- Have you identified the higher and lower-risk third parties so that an appropriate level of management can be applied to each?
- Are you monitoring your third parties properly?
- Are you confident that your third parties are not over-charging you or that you are not suffering revenue leakage through them?
Leading companies are investing in Third Party Risk Management ("TPRM") to address these issues and others, but also power business performance in a risk-intelligent way.
Start your TPRM journey by joining our interactive seminar in which we will guide you through:
- Understanding your company's exposure to third party risk,
- Benchmarking your organization with over 1,000 global businesses and Deloitte's leading TPRM framework,
- Identifying how improved governance, processes, technology and analytics can help transform your management of third parties, and
- How effective TPRM improves performance and achieves cost and revenue recoveries that directly benefit the bottom line.
As the use of third parties in most companies is pervasive, this seminar will be of interest to individuals from any function in your organization including Risk Management, Finance, Legal, Compliance, Internal Audit, Procurement, Marketing and Sales, as well as board members.
Date: 11 October 2018 (Thursday)
Time: 2:30 PM Registration
3:00 PM Workshop
6:00 PM Drinks & networking
Venue: Deloitte China, 35/F One Pacific Place, 88 Queensway, Hong Kong
Fee: Free of charge
Remarks: Light refreshments will be provided
- Kristian Park, Partner and Global Extended Enterprise Risk Management Services Leader ("EERM"), Deloitte London
- Hugh Gozzard, Partner and Hong Kong EERM Services Leader, Risk Advisory, Deloitte Hong Kong
- Eimund Loo, Director, EERM Services,
Risk Advisory, Deloitte Hong Kong
Registration & enquiries
Registration is on a "first-come first-served" basis. You will receive notice of whether your registration has been successful.
Event and registration details:
Deloitte China Risk Advisory
Tel: +852 2238 7043