It has been a minute since financial institutions received new regulatory guidance on vendor management! The original guidance from the FDIC (FIL 44-2008) is old enough to drive. The most recent vendor management guidance from the OCC (Bulletin 2013-20) and FRB (SR 13-19) are in double digits. Good news! Those guidelines have been rescinded and are replaced with ONE joint interagency playbook on vendor management: The Interagency Guidance on Third-Party Relationships: Risk Management.
How you will Benefit:
- A breakdown of the interagency guidance on third-party relationships.
- What is new and what is different from the rescinded guidance?
- Has anything gone away?
- What actions should I take at my financial institution?