Enhance Third-Party Risk Monitoring Through Relationship Owners

Regulators are increasing expectations for third-party risk management, while around the world, new rules are being passed that focus on supply chain transparency, sustainability and human rights. As expectations for management of third-party compliance risk increase, compliance and legal leaders are finding that they don't receive risk information quickly enough to develop effective mitigation plans. In order to enhance third-party risk monitoring, compliance and legal leaders need a steady stream of valuable risk-relevant information from their internal business relationship owners. However, all too often, these relationship owners fail to deliver. In fact, Gartner research indicates that only just over half of relationship owners who observed third-party red-flag activity, reliably shared that information with compliance. Their failure to share this critical risk information can result in financial and reputational consequences, including severed relationships, regulatory investigations and fines. Join this complimentary Gartner legal and compliance webinar as a Gartner expert delves into how leading compliance functions create greater business ownership of third-party risk monitoring. You will walk away from this session with answers to your vital questions and recommended actions to help you achieve your goals.

• Discover effective strategies to motivate internal third-party relationship owners to consistently share red flag information

• Explore methods used by peer organizations to communicate the ROI of sharing red-flag information promptly

• Identify easy opportunities to boost confidence in addressing third-party red flags

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