Internal Audit, Risk, Business & Technology Consulting Keys to Success Change Requested Transform the bank’s third-party risk management (TPRM) program and identify opportunities for enhancement. Change Envisioned Design and implement an automated TPRM program, including an operating model, policies, frameworks, proce- dures, and enabling technology. Change Delivered Improved and streamlined processes throughout the third-party manage- ment function that provide deeper insight into performance, risk and compliance. Emerging from the financial crisis, global regulators placed additional focus on the ways financial institutions use third parties to bring goods and services to the marketplace. In late 2013, the Federal Reserve Board issued its “Guidance on Managing Outsourcing Ris

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