3rd Party Business Partners Risk Management Community of Practice (Currently "Inactive")
In December, 2018, it was determined that there is not a sufficient level of support for MISMO to launch both the "3rd Party Business Partners Risk Managment Community of Practice" alongside the "3rd Party Risk Management Questionnaire Development Workgroup". When the work related to the questionnaire is complete, MISMO will reassess the demand for a "Community of Practice" and will determine whether or not to reactivate this group.
The community of practice was developed to provide a forum to allow industry participants the opportunity to discuss challenges and concerns involved with third party oversight. The group's goal is to develop and encourage the use of new standards, strategies and best practices for evaluating and managing third parties. Issues that may be addressed include risk assessment procedures across all stages of the relationship, including on boarding of third parties. Lenders, servicers, service providers, appraisers, title companies, software vendors, business groups and regulators are all invited to participate.
If you would like to be alerted of any updates regarding the reactivation of this group, please join the collaboration site. If you are not a member of MISMO, let us know that you would like to information on the group by sending a message to firstname.lastname@example.org.