Third Party Risk Management

June 14, 2023
Cyber Security

Outsourcing, globalization, and cloud adoption have provided your organization with significant benefits, including economies of scale, efficient workflows, and secure data management. While an ecosystem of third parties and vendors has its strengths, the incremental improvements to business operations have made many organizations dependent on multi-layered global supply chains. Technology and cyber risks within this ecosystem can go undetected. That is, until a problem occurs, and you are left to pick up the pieces.

In the first quarter of 2023, one in ten Canadian businesses expected maintaining inventory levels to be an obstacle over the next three months. Close to one-third of these businesses planned to partner with new suppliers, while close to three-tenths planned to substitute inputs, products or supplies with alternates, and work with suppliers to improve timeliness.

Source: Statistics Canada

As a business owner, how can you be sure that you are choosing good technology and business process service providers for your organization? There are multiple factors involved in this decision-making process. In this upcoming webinar with the Welch Risk Advisory team, you will learn to:

  • Identify significant technology service providers and hardware/ software vendors in your organization;
  • Understand risks related to technology service providers and hardware/ software vendors; and,
  • Put controls and safeguards in place to manage these risks in a reasonable way while continuing to make use of suppliers, developers, and service providers to run your business.

Your Speakers

Chris Anderson,
Senior Advisor
Welch Risk Advisory

Chris Anderson is a business and IT risk and cyber security professional with corporate and audit / consulting experience in technology, telecommunications and financial services. Chris has spent over one-third of his career serving entrepreneurial and mid-market clients. He is eager to help Welch clients manage their IT risks and get the most out of their IT investments. He connects the dots between business, IT and risk management, and helps these teams work together to make good business decisions.

Working closely with our Risk Management team, Chris is here to add value to our clients through Technology Risk Management, IT Governance, and Cybersecurity Advisory.

Chris Meyers,
Welch LLP

Chris joined Welch LLP after a successful career as a senior executive in the federal government. Chris brings significant knowledge and background in terms of the broader public-sector environment.

Chris has over twenty years of experience in accounting and financial management in various management roles and sectors. He began his career as a student with Welch in 1998, and left the firm temporarily to take on roles with the Bank of Canada, the Department of Finance Canada and Immigration, Refugees and Citizenship Canada (IRCC). He served as Deputy Chief Financial Officer for IRCC as well as Chief Financial Officer for the Department of Finance.

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