GUIDANCE FOR MANAGING THIRD-PARTY RISK …

GUIDANCE FOR MANAGING THIRD-PARTY RISK Introduction An institution s board of directors and senior management are ultimately responsible for MANAGING activities conducted through THIRD-PARTY relationships, and identifying and controlling the risks arising from such relationships, to the same extent as if the activity were handled within the institution. This GUIDANCE includes a description of potential risks arising from THIRD-PARTY relationships, and provides information on identifying and MANAGING risks associated with financial institutions business relationships with third This GUIDANCE applies to any of an institution s THIRD-PARTY arrangements, and is intended to be used as a resource for implementing a THIRD-PARTY risk management program.

This guidance provides a general framework for the implementation of an effective third-party risk management process. This guidance does not supersede previously issued FDIC and interagency guidance on managing third-party risk in …

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  Guidance, Risks, Party, Third, Managing, Guidance for managing third party risk, Guidance on managing

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