May 5th, 2017
Corporate compliance professionals often believe that their companies have well-designed compliance structures for monitoring risk and enforcing ethical behavior within their organizations. But the truth is that most are struggling with the best way to expand and design third-party compliance programs that truly identify and manage risk with business partners and intermediaries.
A risk-based approach is a methodical and systematic process of knowing the company’s business, identifying its risks and implementing best-practice measures that mitigate those risks. Recognizing and being able to articulate the value and purpose of a risk-based approach is an important step in building credibility in the compliance program.
Download the article “What Constitutes a Risk-Based Approach?” for five practical steps to overcoming the challenges of implementing a risk-based third-party program.