Third parties, such as vendors and partners, play a crucial role in the growth and productivity of a digitized world. With the markets still suffering from the pandemic and the after-effects of the Russia-Ukraine war, the global financial scenario has become unsteady. Organizations struggle to understand which factors in their finances remain robust and cause shortfalls. For more details: https://www.360factors.com/blog/how-manage-third-party-risks-changing-regulatory-environment/

1. ABA Endorsed Solution Provider for
Risk and Compliance Management
How to Manage Third
Party Risks in a
Changing Regulatory
Environment?

2. Third parties, such as vendors and
partners, play a crucial role in the
growth and productivity of a digitized
world. With the markets still suffering
from the pandemic and the after-
effects of the Russia-Ukraine war,
the global financial scenario has
become unsteady.

3. The reason third-party risk
management has become essential
is that the stakes are high and
constitute the bulk of the business
model. So, what happens when a
product or service does not perform
according to expectations or service
level agreement? Will the third party
fail to adhere to regulatory and legal
requirements and get penalized?

4. Challenges by Changing Regulatory Environment
Daily Changes
Global Context
 Availability of Enormous Data
 Cyber Threats

5. Best Practices to Mange Third Party Risks
 Details of Third Parties
 Checklist of Customer Risks
 Risk Segregation

6. Remaining proactive is not new to the
financial industry, yet it comes in many
phases through the third-party risk
management process. The risk
management process can sometimes
fall between security and governance
and may also suffer from a lack of
visibility in cybersecurity, operational or
financial perspectives.
Proactivity Equals Effectiveness

7. Implementing sophisticated third-party risk
management software such as Predict360
identifies the network, technological and
geographical risks associated with third-party
partners.