For those who believe supplier relationship programs are unnecessary, now is a better time than ever to reevaluate. Considering the demands of tackling OCC guidelines and ensuring compliance, banks should prioritize managing supplier risk at the top of their list. Even if banks have all their ducks in a row, they must also be compliant through their third party associations—this is where supplier relationship management comes in. In addition to the likelihood of cost savings from reduction of quality issues, a solid SRM program will provide a plan for formal risk and control processes within supplier relationships. Learn more about the potential to manage complexities and keep your ducks in a row with the help of SRM in this infographic.

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