Third-party risk management is a key priority for banking regulators like the Office of the Comptroller of the Currency (“OCC”). Every one of the many thousands of service providers a bank may use exposes them to different levels of risk - some of which can be serious and costly. This is why banking regulators are requiring strong, risk-based due diligence and ongoing monitoring before and after a third party is hired. Roy Kim explains what you need to know.
Third Party Risk
Insights and guidance from ACA's team of experienced compliance and technology professionals.
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