Outside Risks

Looking at the topic of third-party governance and risk management, Deloitte has issued a report on growth, development, and issues within the field. Based on the results of a survey, the report focuses on five key area, offering various findings:

  • Dependency and Vulnerability:  Organizations remain highly dependent on third-parties, but lack adaptive and coordination management of risks.
  • Relationship Management:  Although focus on developing tools to predict third party risks are increasing, the underlying data for identifying these risks is still lacking.
  • Governance and Risk Management Processes:  Even with increasing usage, confidence in third party governance and risk management processes and technology remains low.
  • Technology Platforms:  Platforms lack central coordination and coverage.
  • Emerging Delivery Models: Centers of Excellence are assisting in obtaining key skills and consistency.