3rd Party Risk Management , Governance & Risk Management

Managing Third-Party Risks: Technology's Role

Deloitte's Julian Colborne-Baber Offers Due Dilligence Insights for Financial Institutions
Julian Colborne-Baber, forensic partner at Deloitte

Managing third-party risks must start with due diligence activities, and technology can play an important role, says Julian Colborne-Baber, forensic partner at Deloitte in the U.K. (See: Sizing Up Cyberthreats in the Financial Services Sector)

See Also: Breaking Down Silos With a Holistic View of Security, Risk

“Technology increasingly is playing a key role in supply chain risk management. One important area is the technology to support due diligence activities," Colborne-Baber says. "One needs to have the ability to capture certain information related to third parties ... and bring that data into your system. Additionally, there are tools that are effectively able to screen for third parties against risk domains.

In this video interview with Information Security Media Group, Colborne-Baber also discusses:

  • Top challenges for financial institutions dealing with third parties and supply risk challenges;
  • How banks redefining their supply chain risks;
  • What tools can be leveraged to assess large-scale risks.

At Deloite, Colborne-Baber specializes in forensic advisory services and conducting financial crime investigations. He has advised on a number of cases involving anti-money laundering, corruption, sanctions, fraud and accounting irregularities.

About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

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