Issue
Achieve a risk management strategy which ensures third-party providers are a source of strength for business – not a weak link.
Create a strong network of counterparties without a weak link.
Managing third-party risk has taken on the need for longevity. Aside from addressing risk management needs and regulatory requirements, institutions should develop a risk-based program which also incorporates a complimentary suite of preventative and detective controls across the three lines of defense.
