News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-05-19T11:34:00
Nearly two-thirds of senior compliance executives anticipate third parties to be the most heightened area of risk to their businesses in 2023, according to the results of a new study. Regardless of company size; compliance program maturity; and, in most cases, industry, compliance professionals expect to dedicate increased attention to third-party risk management (TPRM) alongside other key risk categories.
Compliance Week and FTI Consulting polled 151 legal and compliance decision-makers as part of an online survey benchmarking the use of technology in compliance conducted between February and March. Respondents to the survey largely represented the technology (13 percent), banking (13 percent), healthcare (10 percent), and manufacturing (7 percent) sectors.
The survey asked respondents to choose all that applied from a list of top-of-mind risk areas they expected to require additional focus this year. TPRM was indicated by 62 percent of overall respondents, far ahead of litigation/regulatory exposure (45 percent); anti-bribery, anti-corruption (ABAC), anti-money laundering (AML), and fraud (38 percent); and environmental, social, and governance (ESG) matters (38 percent).
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2023-07-05T17:10:00Z By Kyle Brasseur
The impact of new technologies like generative artificial intelligence on the third-party risk management landscape was among the points of discussion addressed at Compliance Week’s TPRM Summit in Atlanta.
2023-05-16T16:05:00Z By Jeff Dale
With new technology tools come risks that can’t be denied, a think tank comprised of senior compliance professionals discussed at Compliance Week’s 2023 National Conference.
2023-03-03T19:43:00Z By Aaron Nicodemus
The Department of Justice announced changes to its evaluation procedures for corporate compliance programs in criminal investigations, including monitoring off-channel messaging by employees, executive compensation programs, and how the agency selects compliance monitors.
2024-05-21T12:45:00Z By Ruth Prickett
A recent survey by surveillance technology firm SteelEye found most financial institutions do not monitor their employees’ use of social media or factor in market risks exacerbated by social media posts.
2024-05-14T12:00:00Z By Adrianne Appel
Large public companies say they are prepared to comply with the disclosure requirements of the SEC’s new cybersecurity incident rule, according to a survey conducted by Compliance Week and DLA Piper, but concerns exist that those reports could enhance the threat of future cyberattacks.
2024-05-06T09:45:00Z By Aaron Nicodemus
Few compliance teams describe their access to company data as “robust,” according to a new survey conducted by Compliance Week and NAVEX, while apprehension toward the adoption of artificial intelligence remains a hurdle for the profession to clear.
Site powered by Webvision Cloud