As a former hockey mom, I assure you that there is nothing quite as pungent as a travel-team hockey bag. Adolescent sweat, steamy equipment, and skates with remnants of ice all shoved into a giant bag with no ventilation makes for a breeding ground for fungus and bacteria. But ask any player, coach, or hockey parent, and they’ll tell you that they hardly notice the stench. Why? Anosmia. Anosmia, commonly known as smell blindness, occurs when prolonged exposure to a particular scent or odor, such as hockey-related smells, impairs your ability to detect it. Similarly, operating in a sustained environment of risk overdrive has impaired risk professionals’ ability to detect the stench of urgency emanating from third-party risk.
In my new report, The State Of Third-Party Risk Management, 2024, we surveyed enterprise risk management decision-makers in North America, Europe, and Asia Pacific across industries to understand how third-party risk priorities, perceptions, and practices are changing in response to current trends. Here’s what you need to know to shake the smell blindness.
Wake Up And Smell The TPRM Urgency
Third-party risk management (TPRM) is not…
