Third Party Thursday - June 20, 2024

Happy first day of Summer! Catch up on third-party risk news, resources, community happenings, and much more. Read below.

A bank was banned from entering new fintech relationships without regulatory approval as third-party risks continue to rise in the financial industry. The OCC published its Semiannual Risk Perspective for Spring 2024 report. Australian regulators finalized a key third-party risk management regulation and payment service providers are preparing for the Retail Payment Activities Act in Canada. Minnesota joined U.S. states with a comprehensive data privacy law .

The U.S. Department of the Treasury is looking to understand AI usage in the financial industry , including third-party AI. Continuous third-party monitoring is a key challenge experts say can be solved through technology . It’s also recommended to understand common supply chain breach tactics and manage third-party data access . Catch up on all of this week’s news here.?

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Infographic: When and How Often to Perform Vendor Due Diligence

Blog:?What to Include in Vendor Contract Templates

Blog: Federal Agencies Release Third-Party Risk Management Guide for Community Banks

On-Demand Webinar:?Assessing Vendor Risk: A Deeper Dive

eBook: A Business Case for Third-Party Risk Management

Press Release:?Venminder Unveils AI Driven Breakthroughs in Third-Party Risk Management ?

Check out the latest discussions in our complimentary online community dedicated to third-party risk professionals. Visit?www.thirdpartythinktank.com to register and sign in.

• Complementary User Entity Controls (CUECs) Department Procedures: "Does anyone have a procedure that assists vendor owners with filling out CUECs?" Help Answer
• Risk Assessment Questionnaire for High-Risk Vendors: "Would anyone be willing to share their risk assessment questionnaire for high-risk vendors?"?Help Answer
• Guest Speakers: "Are guest speakers in scope or out of scope in your third-party risk management program?" Help Answer

The Vendor Due Diligence Process: End to End

For effective TPRM, it's essential to conduct appropriate vendor due diligence during the onboarding and ongoing stages of the relationship. The level of due diligence required should be tailored to the level of risk involved. We'll cover the due diligence process in this session.

June 25, 2024 | Basic | 2pm ET | Register Now

Third-Party Risk Management Reports: Right Data, Frequency, & Content

For many, it's a regulatory requirement to report TPRM to your board and senior leadership. It can be a cumbersome task to gather all reports that need to be provided to various departments. In this session, we'll walk you through the basics of TPRM reporting, what should be included, and more.

June 9, 2024 | Basic | 2pm ET | Register Now

Vendor Onboarding: Starting Vendor Relationships Right

The onboarding process is the crucial first step in any vendor relationship, as it sets the foundation for managing the vendor and their risks throughout the partnership. But, what are the key components of an effective vendor onboarding process? Join us for this informative webinar to learn all about vendor onboarding.

July 11, 2024 | Intermediate | 2pm ET | Register Now

Blog: Converge Technology Solutions - Is AI Friend or Foe to Cybersecurity?

Blog:?SHI - Is AI the Future of Higher Ed? SHI and Dell's Exclusive Survey Shows the Surprising Truth

Whitepaper: BitSight - 5 Proven Strategies to Maximize Supply Chain Cyber Risk Management

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