Prudent risk and compliance officers who want to see how their third-party risk management programs stack up against their peers and catch up on the latest best practices will want to have a look at NAVEX Global’s fourth annual third-party risk management benchmark report, released Oct. 16.
The findings in this year’s report pull from 1,200 survey respondents who influence or manage an ethics and compliance program, 500 of whom directly influence or manage a third-party risk management (TPRM) function. “Given the rapid, global expansion of supply chains along with agent and partner relationships, it’s never been more important to be strategic about mitigating exposure to third-party risk,” NAVEX Global President and Chief Executive Officer Bob Conlin said in a statement. “Smart companies recognize third parties as an extension of their own organizations, and therefore manage third-party compliance as rigorously as internal compliance.”
