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On June 6, 2023, the Federal Deposit Insurance Corporation (FDIC), Federal Reserve (FRB), and Office of the Comptroller of the Currency (OCC) published new Interagency Guidance on Third-Party Relationships: Risk Management. Here are eight things community banks need to know about it.
Since 2017, we have experienced several changes in the NCUA IT examination process, from ACET, to InTREx-CU, to a new acronym, ISE. This article will tell you what you can expect in your 2023 exam and take you through a bit of the history of each acronym.
On January 18, 2022, the Department of Homeland Security's Cybersecurity & Infrastructure Security Agency (CISA) released a new "Insights" memo with a title that is a direct call to action: Implement Cybersecurity Measures Now to Protect Against Potential Critical Threats.
In a world increasingly affected by cyber-attacks (e.g., account takeover, compromised credentials, ransomware, etc.), multifactor authentication (MFA) is considered a strong technical control, although it is not without its challenges. In this article, we will discuss answers to the following questions:
On July 19, 2021, the Federal Deposit Insurance Corporation (FDIC), Federal Reserve (FRB), and Office of the Comptroller of the Currency (OCC) published in the Federal Register a Proposed Interagency Guidance on Third-Party Relationships: Risk Management.
There is no question that when an incident occurs, there are a lot of people who may need to be notified, especially if you work for a financial institution. Who do you contact and when should you contact them? In this article, we will answer these questions, as we talk about incident response plan communication guidelines.
At Tandem, we recognize there are a few GRC (governance, risk, and compliance) solutions on the market. So, why should you pick Tandem? Based on feedback from individuals who have chosen Tandem, here are 10 reasons, in no particular order, why over 1400 organizations have chosen Tandem over other solutions.
In recent months, there has been a noted increase in the number of questions and conversations about the Bank Service Company Act (or "BSCA"). In this article, responses will be offered for several frequently asked questions, such as:
Organizations partner with third parties when the benefit to the organization is perceived to be greater than the risk of outsourcing. With access to third-party expertise, organizations increase their opportunities to offer more services, help more clients, become more efficient, and generate more revenue.
Creating a step-by-step system to evaluate and review your vendor due diligence documentation can ease the burden of vendor oversight while ensuring all vendors are monitored appropriately and thoroughly.