Financial services regulators look to be raising the intensity of their gaze on third-party relationships again. At the end of January 2017, the US Office of the Comptroller of the Currency issued Supplemental Examination Procedures for Third Party Relationships. This release challenges the financial services industry to raise its game when it comes to managing third-party relationships and risk in the coming months.
With this document the OCC expects banks to take a much more strategic approach to manage third-party relationships and third-party risk. Learn more about what it expects the financial institutions it supervises to do, including: