Businesses face numerous and often unexpected risks that can disrupt operations and result in high recovery costs. 

Managing risk is an essential and crucial element to address these challenges and guarantee business continuity which must not be limited to the corporate ecosystem but must also turn maximum attention outwards.

There are numerous external suppliers and third parties that companies rely on to optimise, implement and evolve their operations.  

This entails the need to address the possible external risks to which the organisation is exposed:

  • Cybersecurity risk: the risk of exposure or loss resulting from a cyber attack, security breach, or other security incident.
  • Operational risk: the risk of a third party causing interruption to business operations.
  • Legal, regulatory, and compliance risk: the risk of a third party affecting compliance with legislation, regulations, or other agreements.
  • Reputational risk: the risk of receiving negative feedback due to disruptions, interruptions or violations caused by a third party.
  • Financial risk: the risk of a third party causing a financial loss to the organisation.

Our team can develop an effective third-party risk management framework that protects your business by establishing a robust third-party risk management process that includes multiple stages from analysis to monitoring.