The operating environment for financial services and insurance firms has become increasingly complex, regulated and abundant with risk. As such, supplier and vendor risk management, as well as compliance, have taken on heightened importance. Yet, the organizations responsible for managing that risk often have constrained resources, limited visibility and little understanding of their supplier related risks. The first step in building a best-in-class risk management program is risk assessment. Defining the threats to the organization, developing risk models, determining thresholds for risk and assessing and prioritizing risks all set the foundation for a successful risk mitigation strategy. In this session you will hear from executives at one of the nation’s leading health insurers as they describe their journey and experience in building a risk assessment program.
Topics in this session included:
- Why supplier risk assessment is the foundation of a risk program
- The key questions to ask regarding supplier risk
- How to collect and manage critical sources of data
- How to apply technology solutions to solve complex problems and deliver insightful analysis
Categories: 2014 Fall - Denver, Summit Presentations
SRC Type: Risk Management, Sourcing Management