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Jun 26, 2023
Meet the KY3P Team - Rogier Binsbergen
Tell us a bit about yourself:
I was born and raised outside of Amsterdam, and now live in Milan, Italy, although I've also lived and worked in Germany and Spain. I studied finance and started my career in banking at ABN AMRO. My career has come full circle because at ABN I did credit risk modelling and the bank was using S&P Financial models at the time!
Outside of work, I play a lot of sports. I used to play a lot of field hockey and today I'm very active, skiing in the winter and golf and hiking in the warmer months, and keep fit with running and swimming. I watch a lot of sport too, and support IOX Amsterdam and Manchester United. To relax I like to read, eat, and be outside enjoying nature.
How long have you been with KY3P? Please elaborate on your career trajectory with the firm and beforehand.
I always worked in risk management in some capacity; first in credit risk and quantitative modeling. Then, I moved to more financial risk sides of liquidity and treasury with the only risk domain I hadn't covered prior to KY3P being operational risk. I spent some time at PWC in various roles with my final role there as a risk management director responsible for all areas of client risk and in Italy I worked on some cyber risk and third party risk management engagement for clients. I really enjoyed these, and having partnered with K3YP, I really liked their response and this pushed me to making the move.
I joined KY3P in August 2022 to lead the commercial activities in the EMEA region. After a few months, the opportunity came up to also take on a commercial leadership role on the Managed Services team, so I've taken that on too. In this role, I can work with clients to make their workflow fit their needs. It's very exciting and very challenging, with a lot of room to grow.
Favorite KY3P memory:
Whenever the team visits Italy, we always enjoy a good dinner and a fun adventure. I've had great evenings with, among others, Richard, Kate, Arka and Peter! A highlight has to be Peter singing Swedish songs after dinner!
Could you explain a bit about what you do at KY3P? How does your role fall into the world of third-party risk?
My role is twofold, with my primary function being business development for all KY3P products in the EMEA region. This includes having a robust go-to-market strategy and understanding regulatory changes. Our assessment services, hosted now with Trusight, are very important to the business, and working with them has been an important initiative for me this year.
Beyond that, obviously we collaborate a lot with sales, organizing client visits, roundtables and seminars and it's been very exciting to expand the firm's footprint across EMEA. Acting as a subject matter expert, I often speak at roundtables, which I enjoy, about TPRM and the industry trends across the globe.
On the managed services and advisory side, were looking at how clients can outsource parts of their TPRM lifecycle, and use our teams to deliver due diligence data and assessments as well as subject matter expertise to build or improve their models.
What do you think is the future of third-party risk/vendor risk management? What is one area that you see the field expanding into?
Areas we see developing at a rapid pace are utilizing TPRM data and assessments. However, a big part of the future of third-party risk management, believe it or not, is outsourcing. A lot of institutions and clients are still doing it all in-house - procurement, due diligence, assessments and so on. However, a more efficient solution is to use data insights from information providers and external TPRM assessment services or shared utilities as well as managed service experts to manage the operational tasks. This allows them to free up resources for more high value activities.
The centralization of managing risk domains is also an important trend. Many institutions don't have a combined view from a risk management perspective which makes it harder to manage. For example financial, ICT and cyber risk are often quite well established, but financial crime and ESG risks are equally important. Having a holistic view on your vendors by combining these assessments, gives you a better overview for a composite review.
Finally, operational resilience is very important and third parties are core to this. Third parties, particularly critical ones, must be included in scenario testing, and we expect to see further development of this in the coming months.
What advice would you give to someone looking to break into the world of third-party risk management?
In my case, I moved from financial risk to operational risk and then it quickly expanded to include cyber risk and third-party risk management. So this is definitely one way to go - start with one area of risk, become an expert, then expand beyond that, but a good understanding of supply chain management and procurement is also crucial.
TPRM covers a lot of other risk domains like location risk, cyber risk, ESG, financial crime, data privacy and more getting a good background in cyber risk management, information security and data privacy is useful as it's such a dominant factor for financial services. It's also important to get experience in financial risk and ESG. ESG, for example, will be crucial going forward as a result of emerging regulations across the globe.
Overall, don't just focus on TPRM but try to understand all the risk domains that are included in TPRM and relevant when assessing the supply chain.
What do you think sets KY3P apart from competitors?
Our unique selling point is that we are a one-stop-shop solution. We can offer everything from questionnaires to assessments, to managed services, with a workflow solution that is genuinely "headache-free" for our clients.
It's also really valuable that we are built for the industry and from the industry and are led by real TPRM experts, focused on the specific and tactical use of the financial services industry (many of which still have a stake in us today). All of this means we truly understand our clients.
What's one fun fact about yourself?
I love music, but many people don't know that I also like to play. I've played the piano since I was young and learnt the guitar in high school. I also used to play in a band… a long time ago! I do also enjoy singing but, probably due to a lack of talent, my family friends and girlfriend have all made it clear I shouldn't seek a second career in this area!
S&P Global provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.
This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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