Call us now:
We have said previously that the Financial Services Sector is facing a wave of cyber and risk management regulation. So not to disappoint, the Federal Deposit Insurance Corporation, Department of Treasury and Office of the Comptroller of Currency have issued guidance on the management of 3rd party relationship risk.
The enclosed guidance rescinds previous guidance that the respective agencies have issued. Creating a comprehensive risk management guide for the governance, design, assessment, oversight and assurance of third party supplier risks.
The agencies follow a tailored approach to third-party risk management, adopting a standard risk management lifecycle to address third party supplier risks. Taking a prescriptive approach to risk governance, assessment, oversight and assurance of suppliers and supplier risks. For covered entities one expects that this will flow down to banks third party suppliers as part of due diligence.
Ted Dziekanowski
#cybersecurity #riskmanagement #thirdpartyriskmanagement
View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3AugcPost%3A7074777361249882112