Name: Eleanor Robert "EllieRob" ThompsonDavis
Age: 55 42
Education: MBA from Harvard Business SchoolDuke University, B.AS. in Accounting Business Administration from the University of PennsylvaniaNorth Carolina at Chapel Hill
Professional Background:
2515+ years of experience in professional services firms, with a focus on audit and assurance, risk management, procurement, and compliancevendor management roles.
Focus areas: Leading large-scale audit and compliance engagements, developing new service offerings, building client relationships, and managing partner teamsThird-party risk assessment, vendor due diligence, contract negotiation, performance monitoring, and risk mitigation strategies.
Previous roles: Partner Third-Party Risk Management Lead at a Big Four accounting firm, Managing Director of Risk Advisory Services, Head of Compliance Practiceglobal financial institution, Vendor Manager at a technology company, Procurement Specialist at a manufacturing company.
Special certifications or skills: Certified Public Accountant (CPAThird-Party Risk Professional (CTPRP), Certified Information Systems Auditor (CISA), Certified in Risk and Information Systems Control (CRISC)
Industry: Accounting and Consulting Varies depending on the organization's focus
Responsibilities:
Oversee Develop and implement the firm's audit and compliance practice, setting strategic direction and ensuring quality service delivery.
Build and maintain relationships with key clients, including C-suite executives and board members.
Lead business development efforts, identifying new opportunities and expanding the firm's client base.
Manage partner teams, providing mentorship and guidance, and fostering a culture of collaboration and excellence.
Represent the firm at industry events and conferences, building thought leadership and brand awareness.
Goals:
Grow the firm's audit and compliance practice, increasing revenue and market share.
Establish the firm as a trusted advisor and thought leader in the industry.
Attract and retain top talent, building a high-performing team.
Maintain the firm's reputation for quality, integrity, and independence.
Challenges:
Navigating a complex and evolving regulatory landscape.
Managing client expectations and balancing competing priorities.
Maintaining profitability and managing costs in a highly competitive market.
Attracting and retaining top talent in a rapidly changing industry.
Motivations:
Making a positive impact on clients' businesses by helping them improve their risk management and compliance programs.
Building a thriving and successful practice that delivers exceptional value to clients.
Developing the next generation of leaders in the audit and compliance field.
Upholding the highest standards of professionalism and ethical conduct.
Tech-Savviness:
Highly tech-savvy, with a deep understanding of the role of technology in audit and compliance.
Proficient in using audit software, data analytics tools, and collaboration platforms.
Open to exploring new technologies, such as artificial intelligence and blockchain, to enhance audit and compliance processes.
Behavioral Traits:
Strategic thinker with a strong business acumen and leadership skills.
Excellent communicator and relationship builder, able to connect with clients and colleagues at all levels.
Results-oriented and driven to achieve ambitious goals.
Passionate about audit and compliance and committed to delivering high-quality servicesorganization's third-party risk management program.
Identify, assess, and prioritize risks associated with third-party relationships (e.g., vendors, suppliers, contractors).
Conduct due diligence on potential and existing third parties to assess their security, financial stability, operational resilience, and compliance with regulations.
Negotiate and manage contracts with third parties, including service level agreements (SLAs) and risk mitigation clauses.
Monitor third-party performance and compliance with contractual obligations.
Develop and implement risk mitigation strategies to address identified risks.
Goals:
Protect the organization from financial, operational, reputational, and regulatory risks arising from third-party relationships.
Ensure that third-party relationships deliver value and support the organization's strategic objectives.
Build a robust and efficient third-party risk management program that is scalable and adaptable.
Foster a culture of risk awareness and accountability throughout the organization.
Challenges:
Managing a large and diverse portfolio of third-party relationships.
Keeping up with the evolving threat landscape and regulatory requirements.
Balancing the need for thorough due diligence with the need for speed and efficiency in onboarding new vendors.
Building effective communication and collaboration with internal stakeholders and third parties.
Motivations:
Protecting the organization's reputation and assets from third-party risks.
Ensuring the organization's supply chain is resilient and secure.
Building a strong and effective third-party risk management program that is recognized as a best practice.
Developing a fulfilling career in risk management and contributing to the organization's success.
Tech-Savviness:
Proficient in using risk management software, vendor management platforms, and contract management systems.
Comfortable with data analysis and identifying trends and patterns in third-party risk data.
Open to using technology to automate risk assessments and streamline due diligence processes.
Behavioral Traits:
Detail-oriented and organized, with strong analytical and problem-solving skills.
Risk-averse and proactive in identifying and mitigating potential risks.
Excellent communicator and negotiator, able to build rapport with internal and external stakeholders.
Collaborative and team-oriented, working effectively across different functions and departments.
Sources of Information:
Industry publications and research reports on third-party risk management (e.g., The Journal of Accountancy, Compliance WeekShared Assessments, Gartner).
Professional conferences and events Regulatory guidance and best practices on vendor management (e.g., AICPA & CIMA ENGAGE, ISACA ConferenceOCC, FDIC).
Networking with other risk management professionals in the audit and compliance field.Client feedback and surveysand attending industry events.
Vendor risk intelligence platforms and data sources.
Quote:
"Our firm's success is built on trust, expertise, and a commitment to delivering exceptional value to our clients. By staying at the forefront of industry trends and embracing new technologies, we can help our clients navigate complex challenges and achieve their strategic objectivesThird-party risk management is not just about checking boxes; it's about building a comprehensive program that proactively identifies, assesses, and mitigates risks to protect the organization's interests and ensure its long-term success."