Third-Party Management: Asset Management or Compliance Exercise?

The following is an excerpt from third-party risk management expert Linda Tuck Chapman’s RMA Book, Third-Party Risk Management: Driving Enterprise Value. A new edition of the book, with updated content throughout and new chapters on financial crimes risk and innovation risk, is available for purchase here.

It came as a surprise when an executive responsible for sourcing, procurement, and vendor management at a large bank recently told me that the …