When managing operational risk, it’s no longer enough for Financial Institutions to control their own business activities, or even those of immediate providers; today, operational risk management must include the complete ecosystem of vendors and partners involved and consider all third-parties as part of the “extended enterprise”.
In this Point of View, Managing the Extended Enterprise: Enabling Effective and Timely Third Party Risk Management, we provide a framework for Financial Institutions to transform and strengthen their Third Party Risk Management capabilities to not only address regulatory concerns, but also enable a strategic and competitive approach to delivering products and services.
