To create and manage an effective and compliant vendor risk management program, there are a number of key items that must be done, often involving large waves of documentation and analysis. This session will describe in detail the key elements of an effective program.
Jill provides guidance and advising to both prospects and customers to assist with their third-party risk management understanding and needs. Even further, she passionately works across the organization to ensure prospects, customers, and employees all understand the power of the Venminder platform and solutions and apply them accordingly.
Jill has a wealth of experience in sourcing, internal controls and testing, vendor management, and third-party risk management. Most notably, prior to Venminder, she successfully ran a third-party risk management program that covered all stages of the third-party risk lifecycle.
Creating and running a successful third-party risk management program is a lot of work and time, so anything that can be done to make it more efficient is greatly needed. This session will cover ways to do that and other tips to help improve processes.
Various stakeholders need to be kept in the loop on third-party risk management progress and status. Reports come in handy for their review and the third-party risk team to continue with strategic direction. This session will cover an overview of reporting, who is involved in reporting, how to format reports, what reports to use, and other reporting best practices.
When you do a risk assessment on a vendor, there are many areas of risk to consider and assess to ensure the relationship is safe. This session will cover the difference between criticality and risk, the 6 vendor risk categories, or domains; an overview of each category; and red flags to watch out for.