Mastering Third Party Risk Management: Essential Guides by Linda Tuck Chapman

Third Party Risk Management | A Practical guide

It’s a tough challenge operating at the speed of business while satisfactorily managing complexity and risk across the extended enterprise. But this is exactly what customers, shareholders, regulators, and lawmakers demand. Organizations everywhere operate within their risk appetite only when they identify and control risk. The use of third parties exposes them to many distinct types of strategic, operational, reputational, regulatory, and financial risk. Failure to recognize, mitigate, and manage these risks can cause significant harm, causing organizations to stray outside their risk appetite. The global pandemic revealed some serious cracks in risk practices in many organizations. By visibly supporting proactive third party risk management, business leaders can confidently make risk-informed decisions. Leaders who demonstrate risk-centric values and encourage their staff to do the right thing justifiably earn their loyalty, motivating them to protect the organization, customers, and shareholders. This books complements Linda’s first book, Third Party Risk Management: Driving Enterprise Value. It is a must-read for anyone interested in gaining a deeper understanding about third party risk management and how to successfully treat and manage risk.

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Third Party RIsk Management | Driving enterprise value

Hundreds, thousands, or tens of thousands of third party relationships power your institution every minute of every day. Done well, third party relationships deliver what you contracted for while bringing more opportunities to innovate. But they also expose your institution to additional cyber, business continuity, BSA-AML, and model risks. 

In this updated edition of Third Party Risk Management: Driving Enterprise Value, author Linda Tuck Chapman provides a guide to optimizing third party due diligence, controls, and monitoring so your institution can maximize value from the “mini operational and cultural ecosystems” that are third party relationships. 

** This updated version features new chapters on financial crimes risk and innovation risk, and updates throughout.

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What Our Students Say​

It feels like every day you read a newspaper or go online there’s another security breach that has been identified. The reality is the threat landscape is evolving exponentially and the sophistication of bad actors continues to grow at an alarming pace. As a company you are only as strong as your weakest link. The weakest link might be a critical third party, unless you are providing the appropriate amount of risk management and governance. Third Party Risk Management: Driving Enterprise Value provides an insightful and informative view of the reasons why effective risk management of third parties is a business imperative, and what companies must consider to successfully manage this critical part of their business.

- Peter Hill, Chief Risk Officer, Black Knight, Inc.

Linda’s years as a senior-level practitioner and advisor give her a unique perspective and deep expertise. In this book, Linda takes a vast number of rules and regulations and makes them understandable, applicable, and implementable. Her perspective on the millennial generation and how they create an entirely new layer of complexity to risk management is eye-opening and should be carefully read by all sourcing professionals. In this unique time where boomers are leaving the workforce and millennials are taking on larger roles, this knowledge couldn’t be timelier. In addition, the real-life examples provided throughout the book add a layer of insight that can’t be found elsewhere. Linda creates the roadmap we all need to engage in our formidable journey to mitigate risk.

- Dawn Tiura, President and CEO, Sourcing Industry Group

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