Third-party due diligence software exists to close the gaps created by manual or siloed processes. It centralizes the collection, assessment, and ongoing monitoring of information about the vendors and service prov...

The Federal Financial Institutions Examination Council is a coordinating body, and it examines no bank directly. What it does produce is examiner handbooks that the OCC, the Federal Reserve, the FDIC, and the NCUA ...

Compliance teams that use generative AI to draft policies are trying to solve a specific, familiar problem, such as policies drifting out of alignment with the rules they implement. Every regulatory change can touc...

In June 2023, the way the Office of the Comptroller of the Currency evaluates vendor relationships changed. The OCC third-party risk management expectation set that many banks had followed for a decade was rescinde...

Financial firms absorb roughly one in five of all reported cyber incidents, according to the International Monetary Fund's April 2024 Global Financial Stability Report. That figure explains why the most useful...

Most banks make the decision to replace their compliance tooling after an examiner finding, a regulatory change that slipped through unnoticed, or an audit that turns into weeks of assembling evidence from shared d...