Strategies to Mitigate the Cost of a Risky Third Party Relationship


Date :October 17, 2017
Presented By:
MetricStream and Linda Tuck Chapman



Third party incidents like data breaches, fraud,  and others can disrupt businesses. Third party management is emerging as a strategic, value-add activity, but many organizations still evaluate and address third party management in silos, limiting the insight and actionable information they have related to their exposure to risks and performance of critical third parties. For effective management, a deep, informed understanding of risks and the impact on their organization is increasingly important. A comprehensive program and technology-enabled execution enables predictability and dramatically reduces costs, while improving risk and performance management. The last thing your organization needs is to deal with a significant issue or incident that could have been avoided, along with penalties, fines and the costs of remediation.

 

In this webinar, experts will provide insights on :

 

  • Key risk exposure from third parties
  • Understanding the direct and indirect cost implication
  • Best practices for avoiding third party risks
  • Role of technology in managing TPRM program

 

Presenters:

Linda Tuck Chapman - President, Ontala:

Ms. Chapman, published author and popular speaker is a seasoned management consultant specializing in third-party risk and lifecycle management, optimization and governance. As a seasoned corporate executive, Linda and her team deliver unique insight, industry-leading expertise and practical solutions that really work. She is Risk Management Association’s (RMA) subject matter expert, facilitator, trainer and member of their Third Party Risk Management Roundtable Steering Committee.

Ms. Chapman is an Advisory Board Member, Shared Assessment Group; Chair, Sourcing Industry Group (SIG) Thought Leaders Council and Co-Chair, Third-Party Risk Management Working Council; a long-serving Judge for Outsourcing Center’s Global Outsourcing Excellence Awards; Member, CIO Executive Leadership Council (UK); and Lecturer, Center for Outsourcing Research and Education. Linda is a regulator contributor to leading industry publications including the Wall Street Journal and RMA Journal. Her book “Third Party Management – What You Should Know”, published by RMA this fall in print and ebook. She has received special recognition from RMA, SIG and Global Sourcing Leaders. She is an ICB Fellow and Medalist, and holds an MBA (Magna Cum Laude) from Dalhousie University School of Business.

 

Nanda Ramanujam - AVP, GRC Solutions, MetricStream

Mr. Ramanujam seasoned technology management professional with over 15 years of software industry experience with over 10 years in architecting, developing and delivering reliable and scalable Enterprise Class Web applications and messaging services for Audit, Governance, Enterprise, Operational & Third party Risk, Compliance management, and Learning Management Systems. He has extensive experience in establishing effective technology strategies, delivering critical projects on-time and on-budget, demonstrating a track record of creating and implementing enterprise governance models, creating technology roadmaps, and aligning business corporate objectives and technology initiatives to tangible solutions within the GRC domain.

Mr. Ramanujam have a progressive experience in all facets of Software Application Development and demonstrated ability to lead cross-organizational technology and product development projects including solution architecture, requirements management, project planning, statement of work creation, execution management, risk management, budget management, vendor management and an ability to build and manage effective customer relationships.