Congratulations to our MD, Patrick Ryan, for winning the 2017 ISACA South Africa Innovation Award.
Mobius, under Patrick Ryan’s direction, developed a Third Party Risk Management methodology in 2015, and using this methodology assisted clients to manage their third party risks. Patrick Ryan, soon identified the relatively low maturity level of Third Party Risk Management across South Africa.
In assisting several organistions to implement a third party risk management program, it very quickly highlighted, how manual the process is and the lack of expertise and knowledge about third party risk management in the market. Thus often resulting in very senior risk professionals running such programs and executing very manual processes.
It is then that Patrick decided that Mobius Consulting would set itself out on an iterative process, through fit-for-purpose developed technology, to:
- mature third party risk management practices,
- further develop and deepen the pool of expertise and knowledge in third party risk management,
- automate the then manual assessment process through the use of fit for purpose technology,
- focus on including information security as integral part of the third party risk management process, which has in many cases been lacking.
By 2016, Patrick had created and in 2017 registered a digital division within the Group, Phinity Risk Solutions, which would focus on developing such a fit-for-purpose tool. In February 2017 Triplicity Risk was launched as a cloud based SaaS solution that has to date been deployed internationally. www.triplicityrisk.com.