Understanding third-party service provider relationships and the security risks they present to any organization is an essential element of cybersecurity planning. Bad actors continue to exploit the risks presented by third-party service providers that maintain access to corporate-owned information systems.
Third-Party Cybersecurity Strategies Critical to Preparedness
This article examines the guidelines published by Board of Governors of the Federal Reserve System on managing outsourcing risk, along with the Office of the Comptroller of the Currency (OCC) 2013 OCC Bulletin 2013-29 and the supplemental Jan. 24, 2017, examination procedures, which are designed to help bank examiners tailor the examinations of national banks and federal savings associations determine the scope of the third-party risk management examination.
By
David F. Katz, Richard D. Smith, Elizabeth K. Hinson, Jason Mark Anderman and Sarah Statz
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