We will continue to plan out and design a platform for third party risk management. In 2017, MACN started to engage members on how to address third party risks internally. We heard from members on how they have or are working to implement their due diligence program and how providers could support this process. Maintaining the accuracy, security, transparency, and integrity of data is paramount, and this is one of the key risks where member companies are challenged with according to MACNs annual self-assessments. This session will be a continuation of the work done on third party risk management from previous meetings. The MACN Secretariat will present a framework for what a platform could look like and seek members’ input to assess potential scope, and approval to map out costs for platform development, and start a selection process to find an appropriate provider on this basis.
