Third-party risk

Risk management - risk identification.

Third-party risk is the legal, financial, reputational and operational risk that a business faces which arise from the actions associated with third-parties such as suppliers, distributors, intermediaries, logistics providers and customers.

(Source - Financial Stability Board (FSB).)

See also

• Financial authority
• Financial institution
• Financial Stability Board (FSB)
• Nth-party service provider
• Outsourcing
• Risk
• Risk identification
• Risk management
• Service provider
• Systemic third-party dependency
• Third party
• Third-party risk management
• Third-party service provider
• Third-party service relationship

Other resource

• Enhancing Third-Party Risk Management and Oversight: A toolkit for financial institutions and financial authorities, Financial Stability Board, December 2023