With outsourcing growth, managing vendor threats becomes a top priority
Potential risks from external vendors, service providers, and partners—collectively known as third-party risks—are becoming a growing concern for banks, according to Alex deLaricheliere (pictured), strategy and execution leader and banking subvertical leader at WTW.
As banks continue to outsource more functions and services, third-party risk management is taking on a more critical role in their overall risk strategies. While managing vendor risk is not new, it has become essential as banks look to