For most firms when the pandemic hit it changed the way they thought about Third Parties that were critical to their business operations and overall business continuity. This was no different in the Financial sector. The traditional approach went out the window. Now we had to assess our Third Party's ability to deliver services successfully if their workforce was impacted by the pandemic. Listen to how the shift in mindset, changed our evaluation and dialogue with our service providers in the early days of the pandemic. And how it changed the way we think about risk and our monitoring protocol forever.
You will learn:
What to consider when conducting interviews with your Third Parties about the workforce
What enhanced ongoing monitoring looks like during the pandemic when your contracted services are dependent on people
How to measure business criticality in a meaningful way and implement your monitoring program using a critically metric
After an extensive career in the retail sector purchasing soft and hard goods from manufacturers and wholesalers, managing logistics, and working with technology providers, Michele switched to the financial industry eleven years ago. Since that time Third Party Risk has become her passion. Today, Michele leads the Third Party Management Team within Technology who are accountable for TD Bank's Infrastructure, Cloud, and Employee Enablement Vendors, as well as the Enterprise Protect portfolio. She likes to view the services she manages for the Bank quite simply as once you open your laptop or save a file, it is likely you are using a service that Michele's Team buys. On top of that, her Team buys services that keep the Bank's data safe!
For most firms when the pandemic hit it changed the way they thought about Third Parties that were critical to their business operations and overall business continuity. This was no different in the Financial sector. The traditional approach went out the window. Now we had to assess our Third Party's ability to deliver services successfully if their workforce was impacted by the pandemic. Listen to how the shift in mindset, changed our evaluation and dialogue with our service providers in the early days of the pandemic. And how it changed the way we think about risk and our monitoring protocol forever.
You will learn:
Lifecycle Phase: Steady State
Michele Wesseling
After an extensive career in the retail sector purchasing soft and hard goods from manufacturers and wholesalers, managing logistics, and working with technology providers, Michele switched to the financial industry eleven years ago. Since that time Third Party Risk has become her passion. Today, Michele leads the Third Party Management Team within Technology who are accountable for TD Bank's Infrastructure, Cloud, and Employee Enablement Vendors, as well as the Enterprise Protect portfolio. She likes to view the services she manages for the Bank quite simply as once you open your laptop or save a file, it is likely you are using a service that Michele's Team buys. On top of that, her Team buys services that keep the Bank's data safe!