Identify and Manage Third Party Vendor Risks: Using Automation to Increase Visibility
Despite rumors that the new U.S. Presidential Administration is relaxing the Dodd-Frank Regulations, some local and state regulators, like the Department of Financial Services (DFS) in the state of New York are lined up to pick up where the Feds leave off. The DFS of NY not only continues their commitment to regulate third party management in financial services, but also is focused on the information security risk of third parties. To manage all third party risk begins with an enterprise-wide third party risk management program.
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Despite rumors that the new U.S. Presidential Administration is relaxing the Dodd-Frank Regulations, some local and state regulators, like the Department of Financial Services (DFS) in the state of New York are lined up to pick up where the Feds leave off. The DFS of NY not only continues their commitment to regulate third party management in financial services, but also is focused on the information security risk of third parties. To manage all third party risk begins with an enterprise-wide third party risk management program.