Third Party Risk Management in Italy

The study “Third Party Risk Management in Italy: Current State and Future Vision” is the result of a collaboration between Lab4Compliance, Crime&tech – spin-off company of Transcrime, Research Centre of the Università Cattolica del Sacro Cuore, and the DEMS Department of the University of Palermo.

 

The aim of the study is to address a key issue for compliance and security officers in corporations, banks and public administrations: the assessment, management and prevention of third party risks.

 

In particular, the study aims to:

• Provide an overview of the main areas of legislation that directly and indirectly regulate the TPRM;
• Understand the current TPRM practices of Italian companies and banks, identifying the main risks and the most recurring types of controls on suppliers, sub-contractors, partners, customers;
• Analyse the tools and databases most frequently used by Italian operators for TPRM;
• Discuss critical issues, challenges and future opportunities in third-party risk assessment and management;
• Elaborate a set of recommendations for future action in this area.