The Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board of Governors, and the Office of the Comptroller of the Currency (OCC) collaborated to establish a unified approach to managing and monitoring the risks associated with third-party relationships banking organizations maintain. This interagency guidance was approved June 6, 2023, and all federally regulated banking organizations are expected to establish and maintain risk management on all third party relationships including third-party service providers, third party payment processors and fintechs. This session will provide the third party risk management life cycle and what you need to know before your next examination.