Our approach to risk management extends to our work with third-party providers. In 2018, PNC continued its efforts to minimize business risk by maturing and enhancing its Enterprise Third-Party Management Program. This program helps the company identify, manage and mitigate third-party risk and comply with regulatory requirements related to managing key providers. It also demonstrates PNC’s commitment to providing the tools and resources that support a holistic approach to managing risk across the organization. The program initiated efforts to centralize key activities and create a more coordinated entry point for new transactions, and made a commitment to an improved experience for employees and suppliers. The road map for the program will continue to focus on striking a balance between effective risk management and supporting the company’s need for nimbleness to compete in a rapidly changing market.
In 2018, we launched our first Supplier Code of Conduct. Just as we expect our employees to uphold our corporate values, we encourage those who provide us with goods and services to follow similar practices and guidelines. Our code covers four key areas: Ethical Business Practices, Human Rights in the Workplace, Environmental Stewardship and Community Investments. To read PNC's Supplier Code of Conduct, please visit www.pnc.com/suppliercodeofconduct »