April 28, 2015 | Palo Alto, California: Shared Assessments Summit on Third Party Risk Assurance will feature French Caldwell, MetricStream Chief Evangelist, on an industry panel discussion titled, ‘Vendor Risk Management – Keeping Our Eyes On What Matters Most’. The event will be held from April 29-30, 2015, at the Four Seasons Hotel in Baltimore, MD, and will bring together industry practitioners and thought leaders who will share their views on the ever changing environment for third-party risk management, including changes to regulations, standards, and technologies. The panel will also discuss a risk-based approach to managing third (and fourth) party risks.

Vendor risk assessment is more than asking questions and resolving issues. It’s about identifying where risks hide, the ability to identify new risks, and adjusting how to address risks. Regulatory bodies expect organizations to have robust third-party risk management programs in place, which can help them streamline their vendor risk management initiatives, reduce risk exposure, and drive decision-making, business performance, and customer satisfaction.

A recent  Third-Party and Vendor Risk Management survey conducted by MetricStream and the Risk Management Association (RMA) assessed the vendor risk management programs of over 100 leading financial organizations and found that third-party relationships have evolved beyond traditional models of goods and service providers, to include agents, agency agreements, channel and distribution agreements, debt buyers, co-branded products and services, and correspondent bank agreements, among others. Some of the bigger organizations surveyed have thousands of supplier relationships to manage, which is extremely difficult without a mature vendor governance framework in place that is thoughtfully planned, dutifully executed and consistently monitored. The good news - 97% of the surveyed organizations have either defined, or are in the process of defining the ‘critical activities’ in their institution.

Mr. Caldwell, during his panel discussion on Wednesday, April 29 at 3:30 pm, will share his views on identifying where risks hide, adjusting to identify risks associated with new technologies and regulatory guidance, and proactively addressing risks. MetricStream will also showcase its industry leading VRM app which was positioned in the "Leaders" Quadrant of the Gartner Magic Quadrant for IT Vendor Risk Management in November 2014.

To learn more about this event, please click here.

About MetricStream

MetricStream is the independent market leader in enterprise cloud applications for governance, risk, compliance (GRC), and quality management. MetricStream apps and software solutions improve business performance by strengthening risk management, corporate governance, regulatory compliance, audit management, vendor governance, and quality management for organizations across industries, including banking and financial services, health care, life sciences, energy and utilities, consumer brands, government, technology, and manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and GRC innovation center in Bengaluru, India, and sales and operations support in 12 other cities globally.(www.metricstream.com).

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