Third parties provide companies with many benefits, but they also bring risks. The sheer number of third-party relationships companies often makes it difficult to oversee the risks involved. That’s why having an efficient and effective third-party risk management program--including oversight from the board--is critical.

Read “How your board can oversee third-party risk” to learn:

• How risks grow with increased dependence on third-parties
• The hurdles to understanding third-party management risks
• Common risk areas, like brand reputation threats and operational vulnerability
• Questions boards should ask to help improve your third-party risk management program

Getting a handle on a company’s third-party relationships can be overwhelming. But by providing the right oversight, boards can lead deeper discussions with management and come up with solutions that handle risk management’s complexities.

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