The financial services industry is increasingly leveraging new technology to improve the delivery of existing products 和 services 和 to provide increased value across market segments. Given this rapid growth in the adoption of new technology 和 the addition of numerous new 技术提供商, 金融当局和金融机构 are increasingly focused on the risks created by these changing dynamics 和 how to further protect consumers 和 the safety 和 soundness of the financial markets.
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Financial institutions often leverage third-party solutions alongside their existing legacy technology to facilitate the use of new technology 和 the delivery of services to clients. While these technology service providers have augmented the network architecture of many financial institutions, they have also exp和ed the surface area of potential attack vectors for cyber threat actors 和 have increased interconnectedness risks within the financial services sector. It is critical for the industry to underst和 these risks 和 how they may be addressed.
第三方风险
Financial institutions have long been required to assess the risks of third parties, 但最近的网络事件发生在 离子衍生品 和 SolarWinds have led financial authorities 和 market participants to reexamine existing frameworks against the current threat l和scape. This examination has led to several financial authorities updating their third-party risk management rules 和 guidance. 现在, financial institutions should not only underst和 how their third parties manage risk, but also be familiar with the resilience capabilities of those critical third parties. 对于他们最关键的服务提供商, financial institutions must develop exit strategies, gain assurance that those third parties can rapidly recover their services, 和 require that these providers regularly test resilience plans. By further enhancing how firms execute their oversight of third parties, the industry can continue to raise the bar on preparedness 和 response.
互联性
The financial markets are an intricate web of financial firms, 市场工具, 技术提供商, 中央银行, 以及其他机构. 针对某些技术和服务提供商, there may be broad adoption of concentrations within the industry, 这可能会导致 金融稳定风险. As financial institutions increase their reliance on a finite set of technology service providers 和 extend the supply chain, it is important that institutions recognize these risks within their traditional third-party risk management programs. While an individual institution may not underst和 sector-wide risks, each firm can do its part to underst和 its individual concentration of risk 和 develop strategies to mitigate those risks.
To address these risks 和 bolster resiliency, financial institutions should work to identify their critical services 和 how third parties may be leveraged to deliver those services. Doing so will provide a clearer picture of the institution’s potential vulnerabilities 和 the potential impact these vulnerabilities may have on the institution’s operations. 进一步, financial institutions should develop strategies for managing potential operational incidents that could impact one or more of its critical services. By proactively developing resilience capabilities, financial institutions can support a rapid 和 safe recovery from an operational incident 和 decrease the operational friction that may occur during such an event. These steps are critical as firms increase their reliance on third parties 和 continue to develop innovative strategies leveraging new technologies 和 service providers.
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As the financial services sector continues to introduce new technology 和 increase its use of third parties, it is critical that institutions remain focused on fully assessing 和 addressing the risks that come with this evolution. Technology will be a key enabler in the delivery of new capabilities 和 services, but it must be introduced cautiously 和 prudently. 随着生态系统的发展, underst和ing how new technology will be used to facilitate the delivery of new financial products 和 services, 和 critically assessing the potential vulnerabilities 和 impacts will facilitate increased market stability 和 resiliency.
本文最初发表于 交易员的杂志 2023年8月9日.