Bryn Sedlacek, Vice President and Product Manager at Aravo, joins us on the podcast to discuss third-party risk management, focusing on holistic risks and unified visibility. In a wide-ranging discussion, Mike Volkov and Bryn Sedlacek discuss the challenges in implementing a third-party risk management program that captures holistic risks and maintains a consistent, unified line of sight across the organization’s risk profile.
They focus on sanctions, capturing the source and ultimate destination of products/services and including those in screening, leveraging how to handle conflict minerals as a model, and how data intelligence providers can help. Additionally, Bryn discusses unified visibility, which provides comprehensive visibility to executives and decision-makers across risk domains and performance. Finally, they discuss InfoSec risk with third parties, where to start, and the future of risk—technology and alternative risk strategies. Join Michael and Bryn as they navigate the complexities of compliance in today’s corporate landscape.
- Bryn discusses how crucial it is to start with a realistic approach to building a compliance program and continually improve compliance programs to mitigate risks effectively.
- Having a platform like Aravo’s is valuable for companies as it is highly configurable and tailored to meet the unique needs of each client’s business structure and risk management requirements.
- The partnership between IT and cyber security in a compliance program is vital for addressing cybersecurity risks effectively within organizations.
- It is a growing trend for IT and cyber security to focus on collaboration and meeting the unique needs of each department.
- Unified visibility across different risk domains and third-party activities is essential for making informed decisions and managing risks effectively.
- Continuous monitoring and auditing are crucial in compliance programs, with a risk-based approach to optimize resources and ensure proactive risk management.
- Sanctions compliance is a growing area of focus, requiring proactive monitoring, risk-based approaches, and continuous updates to mitigate risks effectively.
Resources:
Bryn Sedlacek on the Web
Email: bsedlacek@aravo.com
