Answer:
The guidance is principles-based. The examples in the Guidance are only illustrative, not requirements, and may not be applicable or material to every banking organization or third-party relationship. They are neither exhaustive nor are they designed to be used as a checklist. Your bank’s processes should be tailored to the risk posed by its third-party relationships.
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Learn more about John Burnett’s, Managing the Risk of Third-Party Relationships webinar.
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