The use of increasingly complex third-party networks can expose financial institutions to adverse impacts, including substantial financial loss and operational disruption. Relationships with outsourced critical service providers, vendors, payment processors, consultants and joint venture partners should be properly evaluated and monitored to identify risks in these third-party relationships.
Comprehensive third-party risk management is becoming increasingly important in the financial services sector, to satisfy regulators and meet shareholder and customer expectations around corporate responsibility, reputational risk, and transparency.
Topics covered:
- What are the hidden risks third-parties present to financial institutions?
- How do you integrate internal stakeholders to improve efficiency and effectiveness?
- What tools are available to establish a holistic approach to identify risks in your third-party network?