Summary of Interagency Guidance on Third-Party Relationships: Risk Management
The Federal Reserve Board, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (the “Agencies”) issued the Interagency Guidance on Third-Party Relationships: Risk Management (“Guidance”) on the development of risk management practices and procedures to implement for effective third party vendor management. The Agencies offer recommendations for planning, contract negotiation, due diligence, monitoring, termination, and review of third-party relationships. While the guidance technically does not impose any new requirements, it does highlight key principles banking organizations can use when developing and implementing risk management processes tailored to their risk profile and the complexity of their third-party relationships.
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily & weekly across forms, checklists, and trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.