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VIEWpoint Issue 1 | 2023
2023 Compliance Trends: Staying Ahead in an Evolving Regulatory E...
2023 Tax Calendar
On Oct. 31, the Office of the Comptroller of the Currency (OCC) issued Risk Management Guidance to assist banks in understanding how to assess and manage the risks associated with third-party relationships. Due to the fact that institutions are being directly held responsible for actions taken by third party vendors, it is critical for banks to have effective monitoring in place to maintain in compliance with applicable laws and protect its customers.
Bank’s third party risk management process should include:
If you need help putting together a third party risk management program, contact Doeren Mayhew’s Financial Institutions Group specialists in Michigan, Houston or Ft. Lauderdale.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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