Hiperos Blog OCC Bulletin 2013-29: Insights from the Risk Management Association

We're fortunate at Hiperos to have earned the business of a significant number of companies in the financial services sector, including an increasing number of large banks. In working closely with our customers, we'd like to believe that we've developed some domain knowledge and expertise in how banks need to manage their third party relationships - in the context of specific regulatory directives as well as overall risk governance and regulatory compliance for the bank. For banks that are regulated by the OCC, the new guidance that was brought out in October 2013 - Bulletin 2013-29 on Third Party Relationships - has raised some collective eyebrows. We wrote about this back in November of last year and provided our initial assessment, based on our review of the guidance and our preliminary discussions with customers - you can check it out here. We also invited one of the partners at Baker & McKenzie, LLP, to provide his insights and recommendations on the topic, and you can listen to a replay of what was a truly excellent webinar here. Following a letter submitted in December to the OCC on behalf of its members, the Risk Management has had numerous discussions with its membership and regulators regarding the guidance. On Thursday March 20th at 2pm ET, Edward J. DeMarco Jr., General Counsel and Director of Regulatory Relations for the RMA will be joining us for a one hour webinar to discuss what he's hearing from the industry in terms of their concerns with the new guidance, as well as the response from the regulators. If your bank is regulated by the OCC and you have questions regarding the guidance, I encourage you to attend and listen to what Ed has to say. For more information or to register click below.