Emerging technologies like automation and generative AI are on the radar as difference-makers for businesses serious about keeping pace with increasing regulatory scrutiny toward third-party due diligence and sanctions compliance, a survey conducted by Compliance Week and Certa found.
Third Party Risk
Posted inRisk Management
A job never done: Tips for TPRM integration
Taking risk mitigation further and understanding your third parties and their risks can create value for your organization, practitioners discussed as part of a panel at CW’s virtual TPRM and Oversight Summit.
Posted inRisk Management
TPRM Summit: How to operate a risk-based due diligence program
A panel of experts broke down the nuts and bolts of integrating a risk-ranking strategy and tailored approach to third-party due diligence at CW’s virtual TPRM and Oversight Summit.
Posted inRisk Management
Due diligence in China: Mitigating arrest, detention risks
Lack of transparency around how to remain within the legal bounds of China’s national security laws has heightened companies’ concerns regarding performing on-site due diligence in the country.
Posted inEurope
Supply chain due diligence must go beyond self-assessments
So many companies rely on suppliers to self-certify they comply with buyers’ codes of business conduct that the practice is “almost useless,” a panel of experts discussed at Compliance Week’s Europe conference in London.
Posted inRisk Management
Survey: Risk chiefs feeling pressure from growing compliance mandates
Mounting compliance requirements and technological innovations have chief risk officers facing more complex risk environments, according to a KPMG survey.
Posted inRegulatory Enforcement
Metropolitan Commercial Bank fined $30M for third-party oversight failings
New York-based Metropolitan Commercial Bank was assessed nearly $30 million in penalties by federal and state banking regulators for failing to properly oversee a third-party program manager whose prepaid cards were a popular target of fraud during the Covid-19 pandemic.
Posted inRisk Management
Digital Transformation of Compliance podcast: Stellantis CCO Darren Bradshaw
In this episode of the Digital Transformation of Compliance podcast series, Darren Bradshaw, chief audit and compliance officer at Stellantis, shares how the automaker has digitized and automated parts of its compliance function.
Posted inRegulatory Enforcement
TransUnion settles with CFPB, FTC over tenant screening accuracy
Credit reporting agency TransUnion agreed to pay $23 million total across settlements with the Consumer Financial Protection Bureau and Federal Trade Commission for alleged tenant screening and security freeze deficiencies.
Posted inRisk Management
OCC examiners to focus 2024 attention on risks that led to bank failures
Bank examiners from the Office of the Comptroller of the Currency are focusing their supervision attention on how banks manage risks that brought down three mid-sized financial institutions earlier this year.
