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Course description

Banking organizations  routinely rely on third parties for a range of products, services, and other activities. The use of third parties can offer banking organizations significant benefits, such as quicker and more efficient access to technologies, staffing, delivery channels, products, services, and markets.

Banking organizations' use of third parties does not remove the need for sound risk management. In fact, the use of third parties, especially those using new technologies, may present elevated risks to banking organizations and their customers, including operational, compliance, and strategic risks. The use of third parties does not diminish or remove banking organizations' responsibilities to ensure that activities are performed in a safe and sound manner and in compliance with applicable laws and regulations, including but not limited to those designed to protect consumers (such as fair lending laws and prohibitions against unfair, deceptive or abusive acts or practices) and those addressing financial crimes.

In this one-hour presentation, you’ll learn about —

  • The scope of the Guidance
  • The agencies’ tailored approach to Third-Part Risk Management
  • Specific types of third-party relationships
  • The third-party relationship risk-management life cycle
  • Third parties’ use of subcontractors
  • Oversight and accountability
  • The need for independent reviews
  • Documenting and reporting third-party relationships


Risk management personnel including compliance managers and auditors; personnel involved in interactions with and oversight of third-party service providers.


John Burnett

John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA's Stonier Graduate School of Banking, and is also a graduate of the BAIs and the Massachusetts Banker Associations Schools of Banking.John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He joined Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company. John joined Glia Group, Inc. and the BankersOnline.com team in June, 2004. He is a frequent presenter of BOL Learning Connect webinars, and at BOL Conferences events.He was a member of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and a former member of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA's Truth in Savings Task Force as Regulation DD was being written, and has served on several ABA and Massachusetts Bankers seminar panels.

Course curriculum

  • 1


    • Access Webinar

  • 2


    • Materials

    • Slides

    • Questions and Answers