In this deep-dive interview, Justin Van Beek draws from two decades of experience in financial services to unpack the evolution—and frequent breakdown—of third-party risk management (TPRM) programs as organizations grow.

He reflects on his work across several financial institutions where he helped build, implement, and mature TPRM frameworks, and outlines the challenges that arise when volume outpaces early design decisions.

Van Beek describes how many organizations take an iterative approach, building a minimum viable product (MVP) version of TPRM to get off the ground. However, cracks begin to show as businesses hit data volume thresholds, leading to unforeseen liabilities and operational strain.

He shares a striking example where a managed services provider couldn't keep pace with scale, forcing the institution to absorb risk and stand up additional support far earlier than planned.

He also explores how misalignment between internal stakeholders and risk teams creates friction, especially when the latter becomes overly focused on risk documentation rather than enabling informed decision-making.

The solution, Van Beek argues, lies in creating “self-service” risk intelligence—giving business units the tools and visibility they need to engage third parties responsibly.

Finally, he emphasizes that while onboarding gets a lot of attention, legacy vendors and post-contract monitoring often become blind spots.

Automation and GRC platforms can help—but only if data feeds are integrated, contextualized, and kept alive long after the contract is signed.