Third party oversight has been elevated to a board-level issue in many companies, requiring them to review sourcing strategy. This begins with a board-approved Outsourcing Strategy Framework, since the business strategy of any successful company must drive the sourcing strategy. As industries and nuances differ, one size does not fit all; therefore divisions must develop their sourcing and risk appetites alongside the board-approved framework. An optimal governance framework is one that aligns with business objectives, is top-down and clearly defines regulatory and audit requirements, while also having bottom-up adherence, exception, escalation and remediation reporting included. In order to help you develop the best framework for your company, this session will outline best practices in developing a C-level framework. It will also provide guidance on developing, implementing and integrating risk and control assessments into the sourcing lifecycle.
- How to develop the risk framework and divisional programs
- How to implement first-line and second-line risk controls
- How to leverage data and analytics to derive objective and actionable insights
Categories: 2017 Fall - Carlsbad, Summit Presentations
SRC Type: Risk Management, Sourcing Management