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Video
Third-party risk management is becoming increasingly complex, with organizations facing a growing mix of geopolitical, cyber, financial, concentration and sustainability risks across their vendor ecosystems. In this interview, Hari Rao, Global Supply Risk & Resilience Director at S&P Global, argues that many risk teams are still failing to communicate risk in a way that resonates with decision-makers. Risk scores, assessments and operational metrics may matter internally, but they rarely drive action at the executive level.
Instead, Rao advocates for a business-first approach that connects third-party risks directly to revenue, growth, resilience and strategic objectives. For financial services firms operating in highly interconnected environments, the challenge is no longer identifying risk but understanding its potential business impact. The discussion explores why a "high-risk" vendor is not always the highest priority, how organizations can improve executive engagement, and why translating risk into business language may be the missing link between effective risk management and stronger decision-making.