Third-Party Risk Assessment Summaries

Overview

Generate comprehensive third-party risk assessment summaries aligned with OCC Bulletin 2023-17 (Third-Party Relationships: Risk Management Guidance), Federal Reserve SR 13-19, and FFIEC IT Examination Handbook. This skill supports the full third-party risk management lifecycle: planning, due diligence, contract negotiation support, ongoing monitoring, and termination assessment.

When to Use

• Conducting initial due diligence on prospective third-party vendors
• Preparing periodic risk assessments for existing third-party relationships
• Evaluating whether a third-party relationship is critical per OCC 2023-17 criteria
• Analyzing concentration risk across the third-party portfolio
• Preparing board or committee reporting on third-party risk exposure
• Responding to regulatory findings on third-party risk management practices
• Assessing fourth-party (subcontractor) risk exposure through critical vendors

Required Inputs