I had the great pleasure of writing a 2-part series on Third-Party Risk Management for Michael Volkov’s blog as a guest author.
Let me give you a bit of background on Michael’s experience: He held several positions with the United States Department of Justice, U.S. House of Representatives, Senate Judiciary Committee and other public bodies. Since 2013, he is the CEO of The Volkov Law Group, firm specialized in white collar defense, corporate compliance, internal investigations, and regulatory enforcement matters. You can find his full bio on LinkedIn page as on the company website.
The subject touched on risk management as it is of high importance for a multitude of organizations, especially when we talk about third-parties. There are 2 areas in the business lifecycle that can create a lot of problems if not handled properly: contract extension and contract termination.
Each article focused on one topic at the time to provide sufficient background info. By providing potential risks and what can be the impact, companies can better understand and assess the applicability of these areas.
You can find the 2 articles on the links below. I’m looking forward to your feedback!