EAA Web Session: Third-Party Risk Management: Managing External Service Providers
Announcement from the EAA organiser:
In an increasingly globalized and competitive business environment, outsourcing activities or services has become a key strategy for many organizations. This approach allows access to specialized expertise, reduces operational costs, and enables a focus on core competencies. However, it also involves transferring critical responsibilities to third parties, introducing new financial, operational, legal, technological, and reputational risks that can significantly impact the organization if not properly managed.
The Outsourcing Risk Management Program is designed to address these challenges by providing a systematic framework to identify, assess, mitigate, and monitor the risks inherent to outsourcing. This program focuses on establishing strong relationships with providers, ensuring compliance with applicable regulations, and protecting the interests of the organization, its customers, and other stakeholders.
By implementing this program, the goal is not only to minimize the risks associated with outsourcing but also to maximize the benefits of this practice, ensuring operational continuity, service quality, and alignment with the company’s strategic objectives. This is achieved through structured processes, advanced monitoring tools, and an organizational culture that values proactive risk management.
The nature of the risk management program in outsourcing lies in establishing a comprehensive framework to identify, assess, mitigate, and monitor risks associated with service outsourcing, safeguarding the organization’s interests. Its purpose is to ensure operational continuity, regulatory compliance, and the quality of outsourced services while minimizing negative financial, legal, reputational, or security impacts. The objectives are to identify inherent risks, evaluate and select reliable providers, effectively manage contracts, monitor performance through key indicators, ensure regulatory compliance, and strengthen cybersecurity, fostering a strategic relationship with providers to enable proactive and resilient management.
Click here to register. The early-bird registration fee for attendees with an EU company billing address (excluding German company billing addresses) is € 300.00 net (reverse charge) for bookings by 12 May 2025. After this date, the fee will be € 390.00 net (reverse charge).
Click here. (Note: timing via that link is in CEST [Central European Summer Time].)
Isabel Sánchez Sánchez
- PhD candidate in ESG Risks and Sustainable Finance at Cantabria University.
- Head of different undergraduate and postgraduate programs in different Universities and Business Schools (Carlemany, VIU, OBS, ESADE…) and keynote speaker in different forums and conferences.
- Professional and lecturer specialized in Banking and Strategic Consulting with extensive experience in Financial and Insurance Entities (KPMG, Popular Bank, Santander Bank...)
- Business Continuity and Crisis Manager in Volkswagen Bank