Innovation In Compliance With Tom Fox

Tom Fox welcomes VP of Third-Party Risk at Prevalent, Brenda Ferraro, to this week's Innovation In Compliance show. They discuss Prevalent's 2020 Third-Party Risk Management study, its key findings, and implications for compliance professionals.  A Holistic Approach Brenda describes Prevalent's mission as "...delivering a unified third-party risk management platform that's going to enable businesses to better reveal and interpret and alleviate risk by simplification and speeding risk mitigation awareness …" Prevalent does this through "economic approaches with standardization, how to use networks, how to leverage completed content gathering and making sure that we're doing the big bang for the buck," Brenda says. She emphasizes the importance of a holistic and economic approach. Key Findings and Recommendations Tom and Brenda discuss why Prevalent commissioned The 2020 Third-Party Risk Management study and its key findings and recommendations. Brenda says that the objective of the study was to provide "a st