As supplier risk grows, banks check their third-party guest lists
Dora forces rethink of KRI and RAF frameworks amid reappraisal of what constitutes a key counterparty
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Third-party risk management (TPRM) jumped from seventh in last year’s Top 10 Op Risks survey to the third top concern this year among regional banks – the result of a litany of failings at key service providers that have brought trading in some markets to a halt more than once in the last 18 months, as well as a regulatory response placing the onus on banks to manage vendor relationships more effectively.
Such incidents are never far from
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