Third Party Management Programs in the Financial Services industry
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Full transcript available below:
Hello, everyone, and welcome to today's webinar hosted by me, Joe Boyhan, of MCO and third-party risk expert and president of ONTALA Lind Tuck Chapman.
Joe, let's move on just so people on the phone know who their colleagues are and which industries they're in. This is our first polling question. This is really, obviously, we know who you are, but we'd love for you to be able to share with your colleagues which different industries you're in, and my apologies if I missed [inaudible 00:02:23], so hopefully the other basket is quite small.
One of the things I'd like to note here is that I come from the financial services sector. I certainly don't work exclusively there, but financial services have been leading the way. This has always been a practice for procurement and risk people, but what's really made a difference is back in 2008 with some of the issues that were happening in the world around us. The financial services regulators really brought this to the attention of senior management and the board as being an important item and you can see here from our poll resource. We felt we have a very heavy predominance in financial services and these are not just banks. It's banks, insurance companies, asset management companies, different funds, and what we're seeing more and more is the service providers in the third parties to these industries are starting to really stand up and take note around what this is all about and what the requirements are.
This webinar was co-hosted with Linda Tuck Chapman of Ontala Performance Solutions.