“Navigating third-party relationships in the financial world requires clarity. Discover the U.S. TPRM guidance and its implications for your institution.”
About this white paper
The financial landscape is complex, and third-party relationships add another layer to navigate. The U.S.'s recent interagency guidance for banks on third-party risk management (TPRM) provides a framework to address this, setting a new baseline of expectations for how financial institutions manage outsourced relationships to ensure operational resilience.
This executive briefing white paper offers a straightforward look at U.S. guidance on TPRM that was released in June of 2023 by the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC). It makes this regulatory framework more accessible, presenting its key components in a clear and concise manner, along with insights on practical implications.
This resource is designed to assist professionals, whether you're in risk management, compliance, or IT, to better understand the terrain of vendor relationships in the context of the U.S. regulatory environment.
Reasons to read
- Stay updated: Current framework governing third-party risk management in the U.S.
- Practical guidance: Get actionable insights and straightforward explanations on how to adapt your daily risk management operations.
- Save time: Access a concise and clear summary tailored for risk professionals like you.
Who is this white paper for?
This document is designed for professionals in the banking and financial services industries, risk management experts, compliance officers, and IT specialists. If you're keen on understanding third-party relationship regulations without wading through complex legal texts, this white paper is for you.
What you will learn
This white paper provides you with invaluable insights and practical approaches, including:
- U.S. TPRM guidance overview: Understand the core components and objectives of the guidance.
- Implications for financial institutions: How the guidance affects day-to-day operations and long-term strategies.
- Best practices: Actionable steps for managing third-party relationships in light of the U.S. TPRM guidelines.
