How well do you really know your clients, vendors, distributors or local representatives? Many companies underestimate the risks and overestimate the quality of their third-party risk assessment. It’s time to reassess the risks and invest in Third Party Risk Management before the damage is done.
Businesses are under intense scrutiny as government and modern society’s expectation for impeccable business integrity continues to grow. Extending to the choice of Third-Party Intermediaries (TPIs), such expectations demand a high standard of ethical behavior. It’s crucial to have the right information before engaging in a new relationship with financial intermediaries, wealth management customers, vendors, sales agents or local representatives or any other third party you work with.