CCI: Risky Business - Important Lessons From Silicon Valley Banks Demise

The collapse of Silicon Valley Bank is the biggest bank failure since 2008’s global financial crisis. Even if your enterprise didn’t bank with SVB, with relationships to more than 50% of all venture-backed companies in the United States, there’s a good chance you have a third or fourth party that did.

The SVB demise cascaded into failures across the supply chain. The impact was severe. With many technology companies that manage critical business functions and processes at risk, business continuity was threatened whether an organization banked with SVB or not.

Understanding the health and risks of partners and sub-tier providers within an organization’s supply chain is vital. Effective risk management requires three disciplines in this environment: radical transparency, proactive vigilance, and agile intervention.

Atul Vashistha, Chairman & CEO of Supply Wisdom, on the collapse of Silicon Valley Bank with Corporate Compliance Insights (CCI)

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