Third-Party Risk Management - Compliance, Challenges, and the Future

Article

The landscape of TPRM is evolving rapidly, driven by new regulations like DORA, technological advancements, and emerging risks. Anne McGowan from Lloyds Banking Group emphasizes the necessity for continuous adaptation to ensure supply chain resilience. This article explores how financial institutions can stay ahead by embracing agility, leveraging data, and integrating ESG considerations into their TPRM frameworks.

Jan 27, 2025

Anne McGowan, Head of Supplier Management, Governance & Risk, Lloyds Banking Group

Tags: Vendor and Third Party Risk

Third-Party Risk Management - Compliance, Challenges, and the Future

The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization

Organizations must continuously evolve their TPRM frameworks to address the complexities of regulatory changes and emerging risks.
Deadlines, rather than prescriptive regulations, are a major driver of urgency in TPRM compliance strategies.
Fourth-party risk and supply chain visibility are critical areas for organizations to manage proactively to mitigate cascading risks.
ESG considerations and AI's growing influence are reshaping the scope and priorities of modern TPRM programs.