Regulatory Requirements for Third-Party Risk Management
This issue's key takeaways: Banks in the US and EU have clear expectations and guidelines for managing third-party risk: the Interagency Guidance on Third-Party Relationships and the Digital Operational Resiliency Act (DORA).These regulations expect banking organizations to perform diligent financial oversight and analysis of third-party partnerships.Banks must manage third-party financial conditions throughout the entire relationship lifecycle to maintain regulatory good standing and avoid financial danger. Comprehensive assessment and analysis tools are key to proactively mitigating risk.
