Third-Party Risks: How to manage and define risk appetite?

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Summary

Outsourcing of functions and services is a continuing trend in the financial services industry. While institutions seek for (IT-) expertise, cost reductions or promising cooperation, risk managers need to raise awareness of associated risks arising from third-party service offerings. In this session, we will analyze third-party risks and their management from three different perspectives:

• What is the general understanding of third-party risk and how do financial institutions cope with regulatory requirements? How can risk appetite be defined?
• How are IT infrastructure providers addressing the requirements and what solutions can they offer?
• How does the first line of defense manage third-party risks within the firm’s risk appetite and which frameworks can they apply?

Presenters

Dr. Fedor-Immanuel Rahn, zeb consultancy
Bastian Bahnemann, Amazon Web Services
Ralf Schüssler, Credit Suisse

Chapter event

In our chapter events – access for members only – we present one or more speakers to share knowledge, updates and best practises on a specific risk topic. In small groups of risk professionals you can exchange thoughts and test ideas. More on SRA chapters. This event is hosted by the chapter Risk Appetite