The Office of the Comptroller of the Currency (OCC) has been setting the standards for managing third party risks for financial institutions for decades. However, financial services organizations still struggle with getting their arms around managing “all” their third parties, not just the ones they “think” are highest risk. Join Comerica Bank and Hiperos as they lay out a roadmap for how Comerica is enhancing its already robust third party management strategy to satisfy current regulations. They will share their insight, industry leading best practices and lessons learned during their third party risk management program implementation.
Topics covered in this session included:
- How to get started, including the risk-centric framework, work streams, roles and responsibilities
- Drivers for third party segmentation
- Why and how to differentiate criticality and risk
- An innovative “cluster” approach to assessing and managing “non-vendor” third parties
Categories: 2016 Spring - Orlando, Summit Presentations
SRC Type: Risk Management, Sourcing Management