An overview of the risk considerations associated with the selection, engagement, oversight and termination of vendors by a bank, and a perspective on the current regulatory expectations.
What You’ll Learn
After successfully completing this course, you will be able to:
- Know why financial institutions use third parties;and the typical services provided
- Understand typical risk areas and the regulatory content
- Outline the methodology for risk categorization
- Describe the stages in the vendor relationship life cycle
- Identify documentation and record keeping requirements