In June 2023, the Board, FDIC, and OCC issued final interagency guidance on managing risks associated with third-party relationships. The new guidance replaces each agency’s existing general guidance on the same topic and is applicable to all banking organizations supervised by the agencies.

The agencies expect financial institutions to analyze the risks associated with third-party relationships and tailor risk management practices, commensurate with your organization’s size, complexity, and risk profile.

In this webinar we will discuss the recommendations included in the guidance and address the “Third-Party Relationship Life Cycle,” which includes:

• Planning
• Due diligence
• Contract negotiations
• Ongoing monitoring expectations
• Relationship termination
• Governance