Third-Party Relationships: Risk Management

The Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board of Governors, and the Office of the Comptroller of the Currency (OCC) collaborated to establish a unified approach to managing and monitoring risks associated with third-party relationships that banking organizations maintain. This interagency guidance was recently approved June 6, 2023 and all federally regulated banking organizations are expected to establish and maintain risk management on all third party relationships including third-party service providers, third-party payment processors, and fintechs.

This session, led by Affirmative Technologies' Nanci McKenzie, dives into the third-party risk management life cycle and what you need to know before your next examination.

Item Number - LMSR4003