In an era marked by unprecedented challenges, including the pandemic and ongoing supply chain disruptions, the importance of effective third-party risk management has never been more pronounced. “Westfield Insurance Third-Party Risk Management: A Comprehensive Case Study” offers an in-depth exploration into how Westfield Insurance has set a benchmark in managing third-party risks by strategically investing in people, processes, and technology.
Navigating Third-Party Risk with Westfield Insurance:
Under the guidance of Zachary Engels, Leader of Operational Procurement, and Lisa Leemans, Third Party Risk Management Leader in Procurement, Westfield Insurance unveils the intricacies of their third-party risk management setup. This case study not only traces the origins and evolution of their strategy but also highlights the challenges faced and the triumphant investments made across all three pivotal areas to establish a best-in-class framework.
Insights into Westfield Insurance Third-Party Risk Management:
- Investment in People: Discover how Westfield Insurance prioritized the development and empowerment of their team, recognizing that adept personnel are crucial for effective third-party risk management.
- Process Refinement: Learn about the meticulous efforts Westfield Insurance put into refining their risk management processes, ensuring a streamlined, efficient approach to risk identification, assessment, and mitigation.
- Technological Advancements: Gain insights into the cutting-edge technology solutions Westfield Insurance integrated into their third-party risk management practices, enhancing their ability to manage risks proactively.
- Overcoming Obstacles: The case study candidly addresses the obstacles encountered by Westfield Insurance on their journey and the strategic measures taken to navigate these challenges successfully.
- Why “Westfield Insurance Third-Party Risk Management: A Comprehensive Case Study” Is Essential Viewing:
This presentation is a treasure trove for anyone involved in procurement, risk management, or organizational leadership, offering:
- A detailed look at a successful third-party risk management strategy.
- Actionable insights on balancing investments in people, processes, and technology.
- Inspiration from Westfield Insurance’s journey towards creating a resilient and forward-thinking risk management setup.
