Capco: Devils in the Details; Third Party Risk Management (TPRM)

I’m sure a lot of people just hoped it would go away.  That the idea of holding the world’s financial institutions responsible for the risk management of their third party vendors, would stay just that – an idea.  But when the OCC issued its directive declaring, “The board of directors and senior management are ultimately responsible for managing activities that control risk in third party relationships*”, things got personal.  And very serious, fast.  The fact is, that describing, monitoring

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