Third-Party Risk Management (TPRM) and Third-Party Due Diligence (TPDD) programs both strive to achieve a common objective: assessing the suitability of engaging with a third party in business transactions. Nevertheless, these programs diverge significantly in their definitions of "safe" and the specific risk areas they scrutinise.
Risk management programs give precedence to concerns encompassing cybersecurity, privacy, and the resilience of business operations. In contrast, due diligence programs concentrate their efforts on evaluating ethical and compliance-related risks.
In this fire-side chat, we will discuss with Nick Jones, IDAM Strategy Lead at Easyjet, the unique competencies of third-party risk and due diligence programs and examine when and how to align them to maximise the effectiveness of each. Attend to learn:
- The primary goals of successful TPRM and TPDD programs
- The differences between the two discipline areas
- Details about the unique risk domains for both programs
- How to align your TPRM and TPDD programs to gain workflow efficiencies