Over the course of two days, senior risk executives from the financial industry and regulatory organizations gathered to discuss third party risk management. The identification and management of third party risk is a top priority for today’s senior executives. How companies manage third party risk is under increasing regulatory scrutiny (OCC Guidance 2013-29, CFPB Bulletin 2012-13); receiving greater emphasis by standards organizations (PCI 3.0 and ISO 27001/2); and, rapidly becoming the central focus of risk executives across the globe.
Neo Group CEO, Atul Vashistha, led a presentation on Realizing Greater Value from Global Resourcing. The discussion focused around good governance practices and the importance of effective vendor management. Atul also reviewed of the critical components of an effective Vendor Scorecard to enable a transparent assessment and comparison of vendor performance, including the incorporation of metrics that measure leading indicators, key performance indicators, processes and learning, market data and industry trends.
For more information about the 7th Annual Shared Assessments Summit, please visit the event page.