Third Party Governance & Risk Management

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Third Party Governance & Risk Management

Overcoming the threats and uncertainty

In our white paper ‘Third Party Governance & Risk Management’ facts and Deloitte experience on the issue of third party management are revealed. With third party management still being in its infancy, the field creates a significant opportunity for those that develop the most effective response.

Extended enterprise risk management global survey 2017

Third-party risk management in many organisation’s has continued to benefit from greater executive awareness; however significant changes in the external environment have slowed down progress in implementing holistic, integrated frameworks and risk management mechanisms over the last 12 months.

Despite this awareness, and some associated improvements in TPGRM, five key areas exist where further effort is required by most organisations:

  • Dependency and vulnerability
    Despite high dependency on third-parties, organisations are still not fully equipped to manage the risks in a holistic and coordinated manner, including those arising from external uncertainties.
  • Relationship management
    Understanding of third-parties is increasing but comprehensive, data-driven risk management and capability to predict emerging risks is still developing.
  • Governance and risk management processes
    Despite executive sponsorship there is still a long way to go to get processes and technology working effectively.
  • Technology platforms
    An integrated TPGRM technology platform that addresses the needs of every organisation has not emerged.
  • Emerging delivery models
    New delivery models are emerging (e.g. utility models, hubs) to better address the challenges of managing third-party risk

Our report looks at how global organisations are addressing the challenges they face in managing third party risk, as they face uncertainty in the external environment and develop various hybrid and innovative delivery models that enable the organisation to remain agile and competitive in the marketplace.

The details of the survey results can be found in the full report attached to this page:

Third party government & risk management

More information on Third Party Governance & Risk Management?

Do you want to know more on Third Party Governance & Risk Management? Please contact Jina Calmaz at +31 (0)88 +3188 288 1871 or Joey Otten at +3188 288 2379

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