Benchmarking Your Third Party Risk Management Program October 26, 2016

© 2015 NAVEX Global, Inc. All Rights Reserved.

www.navexglobal.com

P R E S E N T E D

B Y

Randy Stephens

Vice President, Advisory Services NAVEX Global

© 2015 NAVEX Global, Inc. All Rights Reserved.

Michael Volkov

CEO & Owner The Volkov Law Group

www.navexglobal.com

Agenda •

Third Party Risk Management in Your Compliance Program

•

NAVEX Global’s 2016 Third Party Risk Management Benchmark Report •

• •

•

State of Third Party Risk Management Today Approach to Third Party Due Diligence Third Party Risk Management Program Maturity Program Performance and Satisfaction

•

Take-Aways and Recommendations

•

Q&A

© 2015 NAVEX Global, Inc. All Rights Reserved.

www.navexglobal.com

In This Webinar You Will Learn… •

How your program stacks up against 394 of your peers

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Top objectives and challenges for third party risk managers

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Trends in how organizations like yours are screening and monitoring third parties

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How mature programs approach third party risk management and their performance improvements

•

How to leverage our findings to increase program effectiveness

© 2015 NAVEX Global, Inc. All Rights Reserved.

www.navexglobal.com

Agenda • •

Third Party Risk Management in Your Compliance Program NAVEX Global’s 2016 Third Party Risk Management Benchmark Report •

• •

•

State of Third Party Risk Management Today Approach to Third Party Due Diligence Third Party Risk Management Program Maturity Program Performance and Satisfaction

•

Take-Aways and Recommendations

•

Q&A

© 2015 NAVEX Global, Inc. All Rights Reserved.

www.navexglobal.com

The NAVEX Global Compliance Ecosystem NAVEX Global offers a comprehensive suite of solutions that support each element of your ethics and compliance program: • Establish and Manage Policy • Train and Engage • Report and Resolve • Assess and Monitor • Expert Guidance

© 2015 NAVEX Global, Inc. All Rights Reserved.

www.navexglobal.com

Agenda • •

Third Party Risk Management in Your Compliance Program NAVEX Global’s 2016 Third Party Risk Management Benchmark Report •

• •

•

State of Third Party Risk Management Today Approach to Third Party Due Diligence Third Party Risk Management Program Maturity Program Performance and Satisfaction

•

Take-Aways and Recommendations

•

Q&A

© 2015 NAVEX Global, Inc. All Rights Reserved.

www.navexglobal.com

2016 Third Party Risk Management Benchmark Report •

Facilitated by a third party research firm in August and September, 2016

•

394 respondents completed the survey

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Respondents represent:

•



21 industries



54% Senior managers and C-level



28% Management



18% Non-managers and other roles

Respondents include: 

40% Large organizations (5,000+ employees)



31% Medium sized organizations (500-4999 employees)



29% Small organizations (