FFIEC and its Third-Party Risk Management Requirements | UpGuard

### Executive Summary This article summarizes the FFIEC's third-party risk management expectations for federally supervised financial institutions, explains potential penalties for non-compliance, lists relevant FFIEC IT Examination Handbook booklets, and provides a four-stage compliance guide (assess cybersecurity preparedness, implement a TPRM, continuously monitor third-party attack surfaces, and track third-party compliance). It also describes how UpGuard's product suite (security ratings, vendor risk assessments, ongoing monitoring, questionnaires, and compliance mapping) can support FFIEC alignment and recommends controls such as MFA, encryption, periodic assessments, defined roles, and senior management involvement.