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This the feature article from our Issue #4, 2022 FIRMA FORUM Newsletter. Members can view the entire issue, and past issues, in our archive

Identifying and managing the critical risks of third-party providers

Much has changed in three decades. Today, it is commonly understood that third-party providers to FIs include a broad array of technology and other service providers (although the lack of a universal definition does complicate compliance efforts) and that identifying and managing the risks of these providers require a coordinated and continuous effort. And while long-recognized risks remain important, many other risks, such as concentration risk, also require attention.‚Äč Read More...