Integrating Third-Party Risk Management into Sourcing and Procurement Functions

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Traditionally, third-party risk management (TPRM) has focused on procurement executing contracts, managing relationships (not risk), and conducting quarterly business reviews. But with today’s organizations relying on vendors to fulfill core business objectives and support competitive advantages, these measures are no longer enough. Stories of security breaches, regulatory fines, and economic losses due to third-party incidents are increasing. And although vendors are at fault, your organization can’t outsource liability. TPRM programs must manage this elevated level of risk.

In this webinar, Chris Murphey, senior product manager at Galvanize and former risk management practitioner, will share practical advice on how to integrate your TPRM processes into sourcing and procurement functions so you can oversee the entire vendor lifecycle and scale up your program.

In this webinar, you’ll learn:

• How to bring category managers and other stakeholders into your TPRM program for compliance and commercial advantage
• What controls to insert into supply chain processes to improve vendor onboarding and monitoring
• Best practices to help category and contract managers navigate TPRM requirements and challenges

Speaker:
Chris Murphey, Senior Product Manager - Galvanize