riskcarriere.nl

What’s Your Risk Tolerance? Why Companies Fail to Build Resilience

Nieuws
14-03-2025
Loren Johnson
This question – what’s your risk tolerance? – should be the foundation of every business’ risk management program. And yet, it’s a question few business leaders can confidently answer.

In a perfect world, organizations would aim to eliminate all risks. However, risk, and more specifically third-party risk, is ubiquitous. It stems from a wide array of areas that impact ecosystems of third parties, including but not limited to geopolitics, extreme weather, human rights violations, regulatory compliance, currency fluctuations, and both cyber and physical security.

In truth, no matter how robust the risk management program is, not all risks can be prevented. ​It’s not a question of if a third-party incident will occur; it’s a matter of when, how severely it will impact your business, and what you’re willing to do to stop it.

Effectively navigating complex risks and their potential impacts requires a strategic, systematic approach, unflinching executive alignment, and a collaborative response – a skill that builds operational prowess and a shared commitment to resilience. And this becomes even more of a challenge when third parties – vendors, suppliers and external partners – are involved.

The Complexity of Third-Party Risk

The CrowdStrike outage, AT&T breach, and the Red Sea attacks are recent examples of the potentially extreme and varying impacts of the risks that lay within third-party vendors.

Whether it arises from a first-tier third party or nth-tier in the supply chain, external threats risk financial outcomes, operational efficiencies, service levels, brand reputation, intellectual property and business continuity.

[....]

Lees verder op: garp.org

Gerelateerde vacatures

Geïnteresseerd in een carrière bij organisaties in ditzelfde vakgebied? Bekijk hieronder de gerelateerde vacatures en vind de perfecte match voor jou!
DELA
5.370 - 7.672
Medior, Senior
Eindhoven
Als Senior Internal IT Auditor (RE) (40 uur) bij DELA werk je samen met een team om processen, systemen en organisatiecultuur te onderzoeken. Je voert audits uit die verder gaan...
Top vacature
Forvis Mazars
In overleg
Senior
Rotterdam, hybride
Als Senior Manager Risk Consulting Pensions bij Forvis Mazars speel je een cruciale rol in de interne audit van pensioenfondsen. Je ondersteunt de inrichting en uitvoering van audits, faciliteert risicomanagementprocessen...
ABN AMRO
9.257 - 13.224
Senior
Amsterdam
As a Cluster Lead Specialized Lending Models (Credit Risk) at ABN AMRO, you lead end-to-end redevelopment and recalibration of non-retail specialized lending credit risk models, aligning delivery with the modelling...
NN
8.769 - 12.527
Senior
The Hague
As a Head of Customer Due Diligence at NN Group, you lead the CDD domain and coordinate NL-wide FEC across business units, driving change for AML legislation, designing shared onboarding/ongoing...