Over the years, you've likely been asked to provide due diligence documentation, respond to questionnaires and provide reporting to assert compliance with expectations for your clients or prospects. As the regulatory expectations over financial institutions have increased, you've felt the pinch of the requirements being forced from them to you.
Many financial service providers now require their service providers to have their own third party risk management - usually added within your contract. It's the cost of doing business with a financial institution nowadays.
To meet client or regulator expectations:
Centralize the data on your third parties to efficiently manage, monitor and risk assess your third parties.
Our industry experts and certified team can become your cost-effective staff augmentation answer.
Cybersecurity has the attention of all bank regulatory bodies who have called on banks to address the risk through appropriate due diligence and ongoing oversight and monitoring. It’s important that you can demonstrate that you are taking proactive steps to identify and mitigate potential areas of weakness otherwise you face enforcement actions or high fines.
There has never been a more challenging time to be in the financial services risk management business.
A comprehensive policy, program and procedures in place for third party risk management
Assists with meeting your clients' third party risk management expectations
Helps you meet regulatory obligations