Third Party
You provide services to a bank, insurer or fund. You deliver the service, hold the risk day to day and run the controls, and your client has to be able to show its regulator that those controls work.
The course for this seat is in production. We will send one email when it opens.
When this seat works
Some roles are held by the same person. Each one still needs someone doing it. When someone does, this is what the organisation gets.
- Subcontracting chains are visible.
- Culture is shared, not set by the contract alone.
- Due diligence and monitoring run on current, evidenced information.
Where your seat meets the other three
These are the gaps your seat shares. Close them and the arrangement holds.
Risk and Compliance decides what evidence it needs from you. Show that your controls work, rather than saying that they do.
Procurement is your first contact. The questionnaire and contract clauses they send come from regulatory requirements, not preference.
The Responsible Party relies on your service and signs the renewal. Tell them early about incidents, changes and subcontractors.
The course for your seat is in production
Working with Banks and Regulated Financial Institutions
For organisations supplying into financial services: what your client’s risk team is assessing, how to answer the questionnaire, and how to show your practices as a reason to choose you.
Until it opens, TPRM Foundations, our third-party risk management (TPRM) course, covers the shared foundations every seat needs: where third-party risk sits, the Asia-Pacific (APAC) regulators, the eight risk domains and the lifecycle.
For your seat, it shows what your financial services clients’ risk teams are assessing, and why, before your own course opens.
Course in production
One email when it opens. No other messages unless you ask for them.
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Start this week, free
The eight questions
Pick one third party you know. Ask one question per risk domain of the person who should know the answer, and record what you heard: a clear answer, a claim, or silence.
Run the checkThe Lab Brief
What changed in APAC third-party risk regulation, which regulator it applies to, and what to do about it this month. Fortnightly and free.
Not your seat?
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Working with Banks and Regulated Financial Institutions is in production. Join the waitlist, or start now with the shared foundations.