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Leveraging Vendor Management Processes to Account for Risk
February 20 @ 7:00 am - 8:00 am PST
For years, vendor managers have been successfully honing and automating their processes to create maximum value by cutting costs, build relationships with their vendors, and support business goals. However, when senior executives and the Board see companies in the news due to third party-related issues, vendor managers are being asked to look at risk in a different way.
Today’s vendor manager is tasked with identifying and managing risks that could lead to negative news, valuation impacts, and potential investigations and are quickly learning that traditional monitoring factors, such as total spend, does not translate to business, regulatory or people risk.
This educational webinar will discuss the meaning of vendor risk and how to successfully integrate a vendor risk management framework into established procurement and vendor management processes. Attendees will gain a better understanding of:
- The different types of risks vendors and third parties pose
- How a vendor risk management framework can better protect the organization
- How to integrate vendor risk management into the procurement and vendor management processes
About the Speaker
Sam Abadir, CISM
Director of Industry Solutions, Lockpath, a NAVEX Global Company
Sam Abadir has over twenty years of experience helping companies realize value through improving processes, identifying performance metrics, and understanding risk. Early in Sam’s career, he worked directly with financial institutions and manufacturing companies to help them realize institutional value. As a Senior Manager at Deloitte, he focused on improving processes and increasing value for Global 2000 companies. In the past seven years, Sam has worked with software companies like Lockpath to build the tools that help companies manage risk and create value that enhance performance in a structured and efficient manner.