Bryn Sedlacek, Vice President at Aravo, on Holistic Third-Party Risk Management and Unitary Visibility

Bryn Sedlacek, Vice President and Product Manager at Aravo, joins us on the podcast to discuss third-party risk management focusing on holistic risks and unified visibility. In a wide-ranging discussion, Mike Volkov and Bryn Sedlacek discuss the challenges in implementing a third-party risk management program that captures holistic risks and maintains a consistent, unified line of sight across the organization's risk profile. They focus on sanctions, capturing the source and ultimate destination of products/services and including those in screening, leveraging how to handle conflict minerals as a model, and how data intelligence providers can help. Additionally, Bryn discusses unified visibility, which provides comprehensive visibility to executives and decision-makers across risk domains and performance. Finally, they discuss InfoSec risk with third parties, where to start, and the future of risk - technology and alternative risk strategies. Join Michael and Bryn as they navigate the complexities of compliance in today's corporate landscape.

• Bryn discusses how crucial it is to start with a realistic approach to building a compliance program and continually improve compliance programs to mitigate risks effectively.
• Having a platform like Arvao’s is valuable for companies as it is highly configurable and tailored to meet the unique needs of each client’s business structure and risk management requirements.
• The partnership between IT and cyber security in a compliance program is vital for addressing cybersecurity risks effectively within organizations.
• It is a growing trend for IT and cyber security to focus on collaboration and meeting the unique needs of each department.
• Unified visibility across different risk domains and third-party activities is essential for making informed decisions and managing risks effectively.
• Continuous monitoring and auditing are crucial in compliance programs, with a risk-based approach to optimize resources and ensure proactive risk management.
• Sanctions compliance is a growing area of focus, requiring proactive monitoring, risk-based approaches, and continuous updates to mitigate risks effectively.

Resources

Bryn Sedlaceck on the Web

Email: bsedlacek@arvavo.com

Michael Volkov on LinkedIn | Twitter

The Volkov Law Group