Third-party risk management

Third-party risk management for the effective handling of risks arising from third parties

Almost all companies today work with third parties: Suppliers, service providers, consultants or distributors in order to have processes carried out by the respective specialists and to remain agile and competitive on the market. However, every relationship with third parties also harbours risks that can harm the company: Reputational, regulatory and cyber risks, for example. That is why it is important that relationships with our business partners are loyal and have integrity.

How can companies of all sectors and sizes protect their business against risks from third parties?

Optimising TPRM programmes to improve efficiency and monitoring is particularly important today, especially in the context of the LkSG, which has been mandatory for companies with 1,000 employees or more since 1 January.

In our short series, we are focussing on the topic of business partner auditing and how this can be introduced as simply as possible in the company. Our second session will be dedicated to the special requirements of the US Department of Justice (DoJ) and the Security Exchange Commission, knowledge of which is essential for working with US third parties today.

Further information about our speakers will follow shortly.