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S2 | E29: Optimizing Third-Party Risk Management: Due Diligence, Contracting, and Monitoring
In this episode of the Risk Intel Podcast, host Ed Vincent invites Shawn Ryan back to the show to dive deeper into the recent Interagency Third-Party Risk Management (TPRM) Guidance released in May 2024. The guidance from the Federal Reserve, FDIC, and the OCC included five critical aspects of third-party risk management: planning, due diligence, contract negotiation, ongoing monitoring, and termination. In Part 1 of this series, Shawn discussed in detail the Planning and Termination stages of third-party engagement. In this episode, Shawn covers the critical aspects of due diligence, contracting, and monitoring that financial institutions must navigate, especially when dealing with FinTech and RegTech firms.
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By SRA WatchtowerIn this episode of the Risk Intel Podcast, host Ed Vincent invites Shawn Ryan back to the show to dive deeper into the recent Interagency Third-Party Risk Management (TPRM) Guidance released in May 2024. The guidance from the Federal Reserve, FDIC, and the OCC included five critical aspects of third-party risk management: planning, due diligence, contract negotiation, ongoing monitoring, and termination. In Part 1 of this series, Shawn discussed in detail the Planning and Termination stages of third-party engagement. In this episode, Shawn covers the critical aspects of due diligence, contracting, and monitoring that financial institutions must navigate, especially when dealing with FinTech and RegTech firms.
Follow us to stay in the know!