FEDERAL BANKING REGULATORS CONTINUE TO FOCUS ON THIRD-PARTY RISK MANAGEMENT WITH INCREASED DUE DILIGENCE

Federal banking regulators continue their emphasis on bank oversight and management of risk from third party relationships through a series of guidance and proposed guidance published in the third quarter of 2021. The Federal Reserve, FDIC and OCC published proposed interagency guidance on managing risk of third-party relationships in July 1 and a guide for … Read more

ORGANIZATIONAL STRATEGIES TO MANAGE THIRD-PARTY VENDOR RISK

Blog Author: Thomas J. Canova Co-Founder, CMO – Modevity Third-Party Vendor Risk Management (VRM) is an important part of the overall risk management landscape for enterprise organizations. Most corporations have thousands of suppliers: The fast-moving consumer goods company Proctor and Gamble states that it has over 75,000 suppliers. These suppliers are responsible for everything from … Read more