RMA Offers Banks Opportunity to Participate in Third-Party Risk Management Surveys

Philadelphia, PA (June 27, 2017) —

The Risk Management Association (RMA) is inviting member banks to participate in its 2017 Regional & Large Bank Third-Party Risk Management and Mid-Tier Third-Party Risk Management Surveys.

The surveys are intended to capture the current status of third-party risk management across a range of RMA member institutions and include the following sections:

  • Participant Information.
  • Third-Party Management Framework.
  • Third-Party Selection and Monitoring Process.
  • Critical Third Parties and Critical Activities.
  • Tools and Technology.
  • Contracts.
  • Regulatory and Compliance.
  • Fourth Parties.

“Given the increasing focus on managing vendor and third-party risks, RMA’s surveys allow us to collect data from banks of all asset sizes to improve the ways they mitigate these risks both for their own institutions and for the industry as a whole,” said Sylwia Czajkowska, RMA’s Associate Director of Operational Risk.

The final report will summarize the participants’ responses, while masking the identity of each participant for the protection of the reporting institution. The final report is expected to be available in the beginning of September and copies of the full survey results will be made available to those who participated. The deadline to respond is Friday, July 28, 2017.

For additional information on the surveys and how to participate, please contact Sylwia Czajkowska, Associate Director of Operational Risk at (215) 446-4071 or sczajkowska@rmahq.org, or Edward DeMarco, Director of Operational Risk at (215) 446-4052 or edemarco@rmahq.org.

About RMA
Founded in 1914, The Risk Management Association is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk management principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk and operational risk. Headquartered in Philadelphia, Pennsylvania, RMA has 2,500 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 18,000 individuals located throughout North America, Europe, Australia, and Asia/Pacific.

Media Contacts
Stephen Krasowski, skrasowski@rmahq.org, 215-446-4095
Frank Devlin, fdevlin@rmahq.org, 215-446-4137