Posted by Teresa/FL on 11/11/13 11:18am Msg #492260
Information from the OCC regarding Risk Management
I found this today and thought it might be of interest.
http://occ.gov/news-issuances/bulletins/2013/bulletin-2013-29.html#!
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Reply by John/CT on 11/11/13 12:19pm Msg #492264
Curious, I read that as a pro-active process to be followed by banks, but I don't see a bridge between this and the so-called "CSS Code of Conduct". Am I missing something?
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Reply by Teresa/FL on 11/11/13 12:41pm Msg #492268
I see it as a process that trickles down to us as Third Party Service Providers and as part of the reason the SPW formed and created the CSS Code of Conduct.
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Reply by John/CT on 11/11/13 1:03pm Msg #492270
My point: Going back to the link in the OP, under Due Diligence and Third Party Selection you will see such terms as: "Review", "Evaluate", "Assess", "Ensure", "Verify". The CSS Code of Conduct is simply a piece of paper to be signed. I cannot find the connection between this and the terms mentioned above. Am I still missing something?
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Reply by Teresa/FL on 11/11/13 2:07pm Msg #492274
John,
I did not specifically link this to the CSS Code of Conduct. I don't know how you read that into my original post.
This is general information that I thought relevant to the ongoing discussions here regarding the overview of third parties in our industry.
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