U.S. Interagency Guidance on Third-Party Relationships: Risk Management
On June 6, Federal bank regulatory agencies issued final joint guidance outlining fundamental principles and considerations for banking organizations’ risk management of third-party relationships, especially highlighting those using new technologies or interacting directly with the end customer. The joint guidance is in response to the increasing prevalence of third-party banking relationships and risks.
To bring some clarity to these changes, Cimplifi has published a new whitepaper, U.S. Interagency Guidance on Third-Party Relationships: Risk Management. Our paper focuses on the changes outlined in the guidance, highlighting the key differences between the previous guidance issued and the final guidance across the third-party risk management lifecycle, with a narrower lens focused on the contract negotiation elements.
Download your copy of the paper by completing the form to the right.
Preview the comparison of how the guidance has changed across the risk management lifecycle stages: