Interagency Guidance On Third-Parties: How the Expanded Scope Affects Everyone

The Interagency Guidance on Third-Party Relationships: Risk Management was developed by The Federal Reserve Board (the Board), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) collectively to provide consistency across regulatory agencies and ensure safe and sound third-party risk management practices for all business relationships. Compliance is expected immediately! 

Some may think this guidance is specifically for banks, if you’re not in the financial industry. However, if your customers are, then you should understand and follow these regulations. Additionally, the guidance prescribes a risk-based management approach, which is fundamental to effective third-party risk management and is a recommended best practice for all industries. 

Watch this webinar, in partnership with Compliance Week, where we cover the new guidance in more detail. We’ll provide a brief overview of the Interagency Guidance, as well as share practical advice to ensure your organization is fully prepared for the expanded scope and what this means for your organization’s third-party risk management program. 

Watch now to learn:

• An overview of the guidance 
• Why the guidance is relevant to all industries 
• In scope vs out of scope  
• Compliance considerations for your third-party risk management program 
• Strategies to manage the workload, and how to partner with teams and leverage your resources 
• Change management strategies