The banking agencies in 2024 issued revised final guidance on managing the risks of third-party relationships, signaling more intense scrutiny on financial institutions’ involvement with vendors and other third parties. This reflects the fact that vendor management has been an important issue for a long time, but it is apparent that expectations are increasing, especially as banking goes more digital. Increasingly financial institutions need the expertise of other entities and professionals. The rise of fintech companies and their participation in the banking industry has changed the landscape of risk in important ways, and financial institutions need to adapt.
Please note: The webinar originally scheduled for December 19, 2025, has been rescheduled to December 12, 2025.
What You’ll Learn
- 2024 third-party risk management (TPRM) guidance from the agencies – what to expect and what this tells us about the criticality of program management
- Updates, including recent guidance on risks of arrangements with third parties to deliver bank deposit products and services digitally and via other means
- Managing relationships with financial technology (fintech) firms
- Who at the institution should be involved in these efforts?
- Role of the Board and executive management
- Vendor selection process – how do we pick the right third party?
- Categorization of vendors – identification of critical vendors and how to handle them
- Developing and maintaining risk management policies and programs regarding third-party relationships
- How this relates to AI and models – what should we be aware of?
- Oversight of third-party activities – monitoring and testing
- What happens when a vendor fails to meet expectations?
- Contract negotiation and management – much more than just a legal requirement
- Ongoing monitoring, including on-site visitation when necessary
- Policies, procedures, processes, risk assessments, and training
- Terminating vendor relationships – how does this work?
- Vendors’ ability to comply with applicable law and regulations
Who Should Attend
This webinar is intended to anyone involved in the vendor management/third-party risk process, from compliance and risk management professionals, to counsel, management and even directors.
