Executive Summary

For Chief Risk Officers (CRO) and their teams, it’s time to act.

Faced with increasing disruption risks from more sources and in more locations, CROs are actively and urgently exploring new strategies, approaches, and technologies to mitigate third-party risk and ensure continuity
and resiliency.

This brief addresses this pressure on risk management executives to drive change, specifically:

• Problem – Legacy-based TPRM practices are unable to effectively mitigate today’s risks of disruption
• Cause – Current risk practices and models are periodic, point-in-time, outdated, and ineffective
• Solution – Data science, continuous intelligence, automation, and new thinking set the new standard in risk management