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Effective Third Party Risk Management

Learn How To Implement Effective Third Party Risk Management

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WHEN

12 April 2019, Friday 11:00 AM PDT | 02:00 PM EDT | Duration: 90 Min - Online


What You Will Learn

In this Risk Management course you will learn the risk management guidance on third-party relationships provided by the OCC Bulletin 2013-29 and how the banks continue to increase the number and complexity of relationships with both foreign and domestic third parties such as outsourcing entire bank functions, outsourcing lines of business or products, single third party to perform multiple activities, address deficiencies and engage directly with customers.


Why You Should Attend

Vendor risk management is an important component of a financial institution’s operational risk management program. Financial institutions are accountable for the actions of their vendors and outsourcing partners and, in most cases, will suffer the financial and reputational consequences of their shortcomings.
Additionally, in the aftermath of the financial crisis, regulatory scrutiny has reached beyond financial institutions, to the vendors that support them. A sound vendor risk management program, including careful planning, due diligence and selection, and close oversight and monitoring during the life of the contract, is necessary to reduce the risks posed by the outsourcing of critical functions.
This course will cover the risk management guidance on third-party relationships provided by the OCC Bulletin 2013-29. According to the Office of the Comptroller of the Currency (OCC): “Banks continue to increase the number and complexity of relationships with both foreign and domestic third parties, such as:
Outsourcing entire bank functions to third parties, such as tax, legal, audit, or information technology operations;
  1. Outsourcing lines of business or products;
  2. Relying on a single third party to perform multiple activities, often to such an extent that the third party becomes an integral component of the bank’s operations;
  3. Working with third parties that engage directly with customers;
  4. Contracting with third parties that subcontract activities to other foreign and domestic providers;
  5. Contracting with third parties whose employees, facilities, and subcontractors may be geographically concentrated; and,
  6. Working with a third party to address deficiencies in bank operations or compliance with laws or regulations.”


Learning Objectives:

  • Background
  • Major Risks
  • Critical Activities
    • Risk Management Lifecycle
    • Planning
    • Due Diligence and Selection
    • Contract Negotiations
    • Ongoing Monitoring
    • Termination
  • Oversight and Accountability
    • Board of Directors
    • Senior Management
    • Bank Employees
  • Documentation and Reporting
  • Independent Reviews


Who Will Benefit:


This course will provide valuable information to individuals occupying the following positions in the financial services industry.
  • Risk Officers
  • Compliance Officers
  • Internal and External Auditors
  • Financial Controllers
  • Operations Managers
  • Information Technology Managers
  • Procurement Managers


Class Curriculum


  Lecture 1
Available in days
days after you enroll
  Main Module
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days after you enroll

Your Instructor


Mario Mosse
Mario Mosse

Mario Mosse has over 40 years of experience in operational risk management, internal audit and regulatory compliance at financial services companies. He is the president of MMosse Consulting, LLC, where he provides risk management advice and training to the financial services industry.

Previously, he was the head of operational risk management at Prudential Financial, Inc.

Prior to joining Prudential, Mr. Mosse was with The Chase Manhattan Bank, where he held several senior positions in internal audit and risk management


Recent Results


Peter Madigan - the US regulation editor for Risk.net

Mario Mosse has waged a careful campaign to implement Basel II at Prudential, a New Jersey-headquartered insurance company. Delivering value both to senior management and to the business lines is at the core of his strategy.

Frequently Asked Questions


How to join the course?
You will be contacted soon via email you provided during registration. In this email, you will get further instructions on how to proceed with the training.

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