Welcome to today’s Third Party Thursday! My name is Stephanie and I’m the Pre-Sales Technical Pricing Consultant here at Venminder. Today, we’re going to discuss why third party risk management isn’t just for financial institutions.
Third party risk management may be a practice most commonly associated with the financial services industry, particularly thanks to the regulatory guidance that has been issued by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) over the past several years since the financial crisis.
However, it’s not something that only financial institutions should worry about – it affects everyone. And, here are some reasons why:
Again, I’m Stephanie and thank you for tuning in! Don’t forget to subscribe to the Third Party Thursday series.