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Poole College of Management
Enterprise Risk Management Initiative

Third-party Risk

Nov 1, 2011

Proactively Managing External Relationship Risk

The focus on managing third-party risk is becoming prevalent in the current business environment as more organizations turn to external providers to gain access to needed services, reduce costs, or achieve other strategic advantages. While most executives recognize the importance of thinking through risks associated with delegating key tasks to external parties, several studies suggest the extent of vendor risk assessments is lacking and they fail to be adequately resilient in holding vendors to certain risk management standards. A thought paper by Crowe Horwath presents a process for managing third-party relationship risks by utilizing a risk landscape framework. They highlight three steps to implement a successful third party risk management program.

Jul 1, 2009

Global Integrity Survey

Compliance Week’s survey on global ethics and integrity programs reveals key risks like ethics reporting and third-party compliance. It offers insights into best practices for mitigating operational, bribery, and reputational risks.

Jun 1, 2009

Risk Preparedness

Learn how Deloitte’s risk intelligence philosophy guides organizations in preparing for business disruptions, enhancing resilience, and using risk avoidance strategies to ensure faster recovery and competitive advantage in the marketplace.

Jun 5, 2007

Risk Manager Trepidation

Russ Banham advises risk managers to look beyond traditional models, emphasizing human and reputational risks. Learn how enterprise risk management can address these threats. Read the full report here.

Nov 1, 2006

A Changing Risk Landscape – A Study of Corporate ERM in the U.S.

The 2006 survey by Towers Perrin and Monitor Group of 75 senior finance executives from large publicly traded US companies highlights a rising focus on risk management. Key findings include the identification of major risk categories such as operational, strategic, financial, and compliance risks, with a notable trend towards the adoption of Enterprise Risk Management (ERM) for better communication and risk-return management.

May 1, 2005

Role of the Chief Risk Officer

The Chief Risk Officer (CRO) is rapidly becoming one of the most crucial members of the management team. CROs are involved with managing many types of risks faced by a business including regulatory risks, product development risks, and strategic risks.