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In this insightful interview at Risk Evolve, Cedric d'Albis, Chief Auditor for Innovation and Technology at Rabobank, discusses the growing complexity of supply chains and the crucial importance of maintaining strong foundational controls in third-party risk management.
Dalbis warns that as digital ecosystems become more intricate, organizations often overlook the basics, such as maintaining an accurate inventory of third-, fourth-, and fifth-party suppliers, which is essential before introducing advanced risk technologies.
He advocates for a pragmatic approach where technology like AI and advanced analytics are used not as a silver bullet, but as tools to enhance existing, well-structured processes.
With the increase in cyber threats, especially through third-party vectors, Dalbis emphasizes the necessity of sound internal security hygiene and scenario planning that factors in supplier failures. Ultimately, he urges financial institutions to stop chasing tech fads and start with the fundamentals—good governance, transparency, and continuous vendor engagement.