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Welcome

Welcome to Third Party Credit Risk (TPCR) Fundamentals. In this course, you will learn about the Third Party Credit Risk Group (TPCRG), as well as their roles and responsibilities. You will also gain more insight into what Third Party Management (TPM) is and the responsibilities of stakeholders within the TPCR process. You’ll also see how TPCRG performs the TPCR approval process.

Review the course learning objectives and tips on how to navigate this course.

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Introduction

This course will provide you with an understanding of Third Party Credit Risk Fundamentals.

After completing this course, you will be able to:

  • Explain the role of the Third Party Credit Risk Group (TPCRG)
  • Describe how TPCRG interacts with Citi’s Third Party Management program
  • Define roles and responsibilities of Stakeholders in the Third Party Management Process and Lines of Defense Construct
  • Explain the analysis that Third Party Credit Risk Group (TPCRG) performs as part of the Third Party Credit Risk (TPCR) approval process

Course Navigation Tips

This course is divided into six topics and an end-of-course assessment.

The Home button at the end of each topic takes you to the Home page.

The Menu button provides access to the individual topics.

The Resource button provides a list of useful links.

The Switch Language button lets you switch to a different language.

The Close button ends your training session and closes the course window.

Third Party Credit Risk Group

The Third Party Credit Risk Group (TPCRG) covers Citi-wide External Third Party activities. TPCRG supports Third Party Management (TPM) with initial due diligence and periodic reviews of External Third Party Engagements, providing risk oversight of Financial Risk Assessments and Credit Approvals of Third Party Credit Risk for relationships.

In this topic, you will examine the main functions of the Third Party Credit Risk Group and find out what creates Third Party Credit Risk (TPCR).

Scroll down to continue.

Third Party Credit Risk Group Introduction

The Third Party Credit Risk Group (TPCRG) is a centralized Global Independent Risk function that covers Citi-wide External Third Party activities. TPCRG supports Third Party Management (TPM) with initial due diligence and periodic reviews of External Third Party Engagements, providing risk oversight of Financial Risk Assessments and Credit Approvals of Third Party Credit Risk for relationships.

While there are additional functions performed by TPCRG related to oversight of products and processes in Personal Banking and Wealth Management, this course will focus on TPCRG’s Citi-wide responsibilities to:

  • Review and challenge the financial analysis performed by the First Line of Defense, and also issue objection or no objection to the engagement of External Third Parties
  • Provide credit approval of Third Party Credit Risk (TPCR)

Select each image to learn more.

Review
 

Review/challenge/issue objection or no objection


Citi’s Third Party Utility (TPU) performs the initial financial analysis of External Third Parties that are in scope of a financial review. This analysis is performed as an activity under the First Line of Defense.

As part of the Second Line of Defense, TPCRG will review/challenge/provide objection or no objection of the financial analysis prepared by TPU.

TPCR
 

TPCR


TPCRG completes a Credit Approval (CA) Memorandum to approve credit risk exposure that arises when there’s an agreement for an External Third Party to hold, collect, prepay or settle Citi Funds.

Example: Collection Agency – Citi’s money is in the Third Party’s possession upon collection.

The failure of a Third Party to perform under a TPCR agreement could result in a financial loss and negatively impact Citi’s earnings and capital. It is the responsibility of each business or global function to identify TPCR in their own organization. The Third Party-Risk Assessment Process (TP-RAP) assists in this identification.

Citigroup Third Party Landscape

Citi’s Third Party relationships span all regions – APAC, EMEA, LATAM, and NAM. NAM (North America) has the biggest share of third party relationships at 28% and of spending at 65%.





Global external Third Party relationships

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Globally, Citi has approximately 14,000 external Third Party relationships with over 8,000 Third Party parent companies.





Citigroup spending on Third Party relationships

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Citigroup spent $18.49B on External Third Parties in 2020. $8.8B of this spend was with external third parties within TPCRG’s scope (2020).





Identified and approved by TPCRG

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TPCRG identified and approved 483 External Third Parties with TPCR exposure (as of 12/31/20). The approved Management Action Trigger (MAT) exposure was $9.5B.

More About Third Party Credit Risk

TPCR (Third Party Credit Risk) arises when there is an agreement with an External Third Party that could result in potential financial loss to Citi due to Third Party’s failure or inability to perform. Generally, TPCR exists due to Agreements with External Third Parties and/or Guarantees or Liabilities to Citi.

Select each image to learn more.

Agreements
 

Agreements with External Third Parties


Agreements with External Third Parties to either hold, settle, pre-pay or collect Citi’s funds:

  • Collection agencies and collection law firms
  • Cash vault services
  • Loan servicing companies
  • Settlement vendors
  • Prepaid maintenance contracts
Guarantee or liability
 

Guarantee or liability


Some form of a guarantee given to Citi by an External Third Party or a liability to Citi exists as a result of an agreement:

  • Club membership providers / Warranty purchases
  • Revenue or minimum return guarantees
  • Credit insurance or mortgage insurance risk

Third Party Credit Risk (TPCR) Categories - Prepayment

There are several categories in Third Party Credit Risk (TPCR).

Let’s begin with Prepayment.

Prepayment is Citi’s advanced payment for a service that hasn’t been performed, with the prepayment period of six months or longer, and with the amount of at least $1MM USD.

Prepayment could come from any kind of service, such as:

  • software licensing
  • system maintenance
  • employee healthcare services, etc.

For example, Citi pays a computer services company $9.2MM USD in advance for the purchase of software including its maintenance and software upgrades throughout the life of the contract.

TPCR Categories: Loan Servicing

Loan servicing is another opportunity for TPCR (Third Party Credit Risk).

Select the forward arrow to learn more about loan servicing.

 

What Do Loan Servicing Companies Do?

Loan servicing companies provide customer service, collection, payment processing and support functions on behalf of the loan originator.

 

Example of Loan Servicing

For example, Citi Singapore owns a mortgage portfolio but outsourced its loan servicing to an External Third Party to collect mortgage payments on behalf of Citi, thus, meeting the definition of TPCR.

 
 

TPCR Categories: In-store Payment

In-store payment providers include supermarkets, small retailers, post offices, etc. One service they may offer is accepting various bills/loans/credit card payments on behalf of Citi.

For example, Citi Panama collaborates with the local convenience store chain so that Citi’s credit card customers can go to convenience stores to make their Citi card payments.

TPCR Categories: Indemnification

External Third Party relationships involved in indemnification are typically contingent upon future events that may/may not occur.

Select the forward arrow to learn more about indemnification.

 

Indemnification Risk

This exposure arises from a potential receivable that may be due to Citi (termination penalty, minimum return, loss reimbursement, bonus claw back) not tied to loans.

 

Example of Indemnification

For example, Citi Brazil enters into a card partnership contract with an airline, and if the airline terminates the contract earlier than agreed, the airline would pay Citi an early termination fee of $7MM.

 
 

TPCR Categories: Vault/Cash Services

The final Third Party Credit Risk category is Armored Car/ ATM service providers.

Armored Car/ATM service providers are responsible for:

Select each tab to learn more.

 
Delivery

Delivery

Physical cash delivery to and from Citi’s branches, Citi’s customers and National Banks.

Cash processing, storage and replenishment

Cash processing, storage and replenishment

Cash processing, ATMs replenishments, and storage/counting/packaging money in vaults for both Citi branches and corporate clients.

Example of Armored Car/ATM Service

Example of Armored Car/ATM Service

An armored car service picks up/delivers Citi cash to/from ATMs in British Columbia. The provider consolidates the cash and holds it overnight in their vault before transmitting it to Citi to complete the service.

Check Your Understanding

Which of the following are examples of TPCR (Third Party Credit Risk)?

Select all that apply and then select Submit.

Submit

Coming Next

You’ve seen an overview of the main functions of the Third Party Credit Risk Group (TPCRG) and how Third Party Credit Risk (TPCR) is created. Next, we’ll explore the broader topic of Third Party Management.

Third Party Management (TPM)

Third Party Management (TPM) plays an important role in managing and mitigating risks associated with Citi’s use of third parties.

TPCRG (Third Party Credit Risk Group) is one of the control groups in the TPM process. TPCRG is responsible for the review/challenge of the financial analysis, credit approval process, and global portfolio management of in-scope providers of products and services to Citi.

Find out how the TPCRG fits in Citi’s Third Party Management in this topic.

Scroll down to continue.

Importance of TPM

Citi uses a large number of External Third Parties to support business operations, client-facing processes and to deliver innovative products and services. Failure to assess and manage the level of risk and complexity of these External Third Party relationships may lead to:

  • Operational disruptions
  • Fraud
  • Cyberattacks
  • Customer impact
  • Reputational damage
  • Financial losses
  • Regulatory fines and enforcement actions

Third Party Management (TPM) plays an important role in managing and mitigating risks associated with Citi’s use of External Third Parties, thus enabling enterprise-wide businesses and functions to achieve Citi’s mission of being the best for its clients.

The TPM process is founded on a risk-based approach for managing Third Party relationships, with dedicated oversight of high-risk relationships. The TP-RAP, discussed later in this course, provides the structure for identifying the inherent risk in a Third Party relationship and determining the required level of due diligence/ongoing monitoring based on the identified risks.

By the numbers: Citi’s use of Third Parties

24,500 External Contracts (E-Sourcing)

9,000 Parent Third Parties (Citi-Approved Supplier Program)

14,000 Third Party Relationships (Citi-Approved Supplier Program)

500 Inter-affiliate Services (E-Sourcing/Inter-Affiliate Service Catalog)

8,500 Intra-Citi Service Agreements (E-Sourcing)

Managing External Third Parties

The engagement and management of External Third Parties is governed by Third Party Management Policy (TPM Policy). TPM Policy requires the Business Activity Owner (BAO) to ensure the financial condition of an External Third Party be reviewed during the initial due diligence and ongoing periodic monitoring process, as required. The review of the financial condition is to evaluate the likelihood that the Third Party will remain financially sound and able to perform under the contract with Citi.

Third Party Credit Risk and Performance Risk Policy outlines the requirements for performing this evaluation as part of the overall framework of third party management.

In addition to providing a review/challenge of an External Third Party’s financial capacity to perform, TPCRG is an active participant in negotiations of significant External Third Party agreements assuring:

  • Performance risks are identified, monitored, and mitigated
  • Credit exposures are quantified, approved, monitored, and captured in the Risk Systems.

Third Party Risk Assessment Process

The Third Party Risk Assessment Process (TP-RAP) provides a structured and objective methodology for:

  • Identifying the inherent risks associated with a Third Party relationship
  • Determining the required level of pre-contract due diligence and post-contract ongoing monitoring based on the identified risks

One of the risks identified by the TP-RAP is Third Party Credit Risk (TPCR). Let’s look at how TPCR is identified in the TP-RAP.

How is TPCR identified in the TP-RAP?

Specific answers in the TP-RAP indicate the existence of TPCR.

Select each button to learn more.

 
“Yes” answer to TP-RAP Question 9

“Yes” answer to TP-RAP Question 9

Per Third Party Credit and Performance Risk Policy, TPCR exists if products/services require:

  • The Third Party to hold Citi funds of > $250,000 overnight or longer period (i.e., through collections, settlement, Cash-In-Transit) or
  • The Third Party to give Citi a guarantee (i.e., credit guarantee, return guarantee) or
  • Citi to have a contractual obligation to make prepayments/advance payments ≥ $1,000,000 (where prepayment frequency/installments are semi-annually or longer)
“Yes” answer to Question 7 of the Material Change Identification and Attestation (MCIA) form

“Yes” answer to Question 7 of the Material Change Identification and Attestation (MCIA) form

For TP-RAP Renewals / Amendments, if the Contract Renewal Amendment of this relationship results in any action that involves a pre-payment to a Third Party in accordance with Third Party Credit Risk guidelines (>$1,000,000 covering a period of six months or more), then TPCR exists.

Check Your Understanding

Which of these describe functions of the TPCRG (Third Party Credit Risk Group)?

Select all that apply and then select Submit.

Submit

Check Your Understanding

Per the Third Party Risk Assessment Process (TP-RAP) and the Material Change Identification and Attestation (MCIA) form, how is TPCR identified?

Select all that apply and then select Submit.

Submit

Coming Next

We’ve explored the Third Party Management process. In the next topic, we’ll discuss Stakeholder roles and responsibilities within the Third Party Management Process and Lines of Defense construct.

The Lines of Defense Construct

Citi uses a Lines of Defense construct to manage risk. The construct is comprised of:

  • Risk Accountable Roles
  • The First Line of Defense
  • The Second Line of Defense
  • Enterprise Support Roles
  • The Third Line of Defense

Scroll down to learn more about each Line of Defense.

Risk Accountable

Any role that performs a risk-generating activity, regardless of which line it resides in and therefore requires risk/control oversight of Independent Risk management, is designated as Risk Accountable.

Select each image to learn about three risk accountable roles.

BAO
 

Business Activity Owner (BAO)


The Business Activity Owner (BAO) is ultimately accountable for the risk of the Citi activity or business process even if an external third party performs the activity on its behalf.

This includes, but is not limited to, ensuring that the activity is performed in a safe and sound manner and in compliance with applicable laws, regulations and in a manner consistent with Citi policies and standards.

BAO responsibilities include:

  • Monitor TPCR exposure and ensure that the amount remains within the credit approval Management Action Trigger (MAT)
  • Support escalations for privately-held third parties failing to provide complete financial statements. Review financial analysis results via OneTPU and address documented concerns
  • Consider financial capacity to perform rating in the third party selection process
  • Receive Adverse Results control for Financial Risk Assessment of third parties with Poor or Marginal financial capacity to perform ratings and complete the control by following guidance provided in Assess Financial Risk L3 Procedure
BAO Support
 

Business Activity Owner (BAO) Support


A Business Activity Owner (BAO) Support is a role within the Business, or the Resource Management Organization’s Third Party Utility, assigned to Business Activity Owners (BAOs) to assist them with the completion of their third party risk management activities.

The BAO Support is responsible for performing certain activities within the Third Party Relationship Life-cycle on behalf of the BAO.

This is solely a support role and does not reduce the ultimate accountability of the BAO.

TPO
 

Third Party Officer (TPO)


Third Party Officers (TPOs) report into the Businesses/Global Functions and are responsible for performing certain activities within the Third Party Relationship Life-Cycle.

TPOs work with the Business, Operations and Technology (O&T) teams, as well as other Citi functions, to:

  • Maximize the Businesses’ engagement with the External Third Party
  • Identify, manage and mitigate risk throughout the Third Party Relationship Life-Cycle

First Line of Defense

Each of Citi’s businesses own the risks inherent in or arising from its business. These units are responsible for identifying, assessing, and controlling those risks so that they are within risk appetite. They may also conduct control and support activities.

It is the responsibility of each Citi business or global function to identify Third Party Credit Risk in its own organization as the First Line of Defense.

  • The Business must engage Third Party Credit Risk Group (TPCRG) to ensure credit approval of TPCR is obtained.
  • The Country Risk Officer or Business Chief Credit officer should ensure appropriate staff are aware of necessary requirements and policies for assessing and approving TPCR exposures.

Third Party Utility (TPU), a unit within Operations and Technology Risk and Controls, falls under Enterprise Support; however, TPU performs the following activities as First Line of Defense:

  • Completes financial analysis on new and existing in scope External Third Parties
  • Proposes Financial Capacity to Perform under the contract rating as (1) Strong; (2) Adequate; (3) Marginal; or (4) Poor to TPCRG for review and challenge
  • Reviews/challenges/confirms Adverse Results Financial Risk Assessment control completed by BAO for third parties with financial capacity to perform rating of Marginal or Poor

Second Line of Defense

The Second Line of Defense is independent of the first line unit. The second line is responsible for overseeing the risk-taking activities of the First Line of Defense and challenging the First Line of Defense in their execution of risk management responsibilities. They must independently identify, measure, monitor and control aggregate risks using consistent definitions and approved methodologies.

The TPCRG is a centralized Global Independent Risk Function covering Citi-wide External Third Party activities. As part of the Second Line of Defense, TPCRG engages in:

  • Credit Approvals for Third Party relationships with TPCR
  • The review/challenge/objection or no objection determination of the financial analysis performed by the First Line of Defense (TPU)
  • Negotiations of Third Party agreements to ensure performance and credit risks are properly identified, mitigated, approved, and monitored
  • Review/challenge/confirmation of Adverse Results Financial Risk Assessment control completed by BAO for third parties with financial capacity to perform rating of Poor

Enterprise Support

Enterprise Support covers activities that are outward facing from the organizational unit in which the activities take place. They support Citi’s firm-wide control environment by providing advisory services and may also design, implement, review, and oversee firm-wide control programs.

Citi Third Party Management (TPM), as part of Enterprise Support, is responsible for establishing Citi’s overall Third Party Management Policy, as well as overseeing its successful implementation throughout Citi. TPM provides management and mitigation of risk associated with Citi’s use of third parties.

Third Party Utility (TPU) falls under Enterprise Support, although it performs key First Line of Defense activities as previously mentioned.

Third Line of Defense

Internal Audit provides assurance services through the following approaches:

  • Analyzes Operations
  • Reviews Compliance
  • Assesses Safeguards

Check Your Understanding

Third Party Credit Risk Group is part of which Line of Defense?

Select the best response and then select Submit.

Submit

Coming Next

We’ve looked at the various stakeholders, now we’ll take an in-depth look at the activities of the Third Party Credit Risk Group (TPCRG).

TPCRG in Action

The Third Party Credit Risk Group (TPCRG) has multiple responsibilities as part of their review. Some elements of TPCRG’s review are:

  • Third Party Credit Risk Process
  • Analysis of banking relationship
  • Contract analysis
  • Confirmation of spend amount
  • Financial review
  • Exit strategy plan review

Take an in-depth look at the activities of the TPCRG in this topic.

Scroll down to continue.

Third Party Credit Risk Process

The TPCRG administers the TPCR process for all Citi businesses and sectors.

TPCR exposure arises when there is an agreement with an External Third Party to either hold, settle, prepay or collect Citi funds, where some form of a guarantee or commitment is given to Citi by an external third party, or a liability to Citi exists as a result of an external third party relationship.

The first step of the TPCR process is Identification. In this step, TPCR is identified as in-scope and financial statements are collected for in-scope suppliers.

Select each tab to learn about remaining steps in the Third Party Credit Risk process.

Quant​ification
Analysis
Approval
Reporting

Quantification


TPCRG may collaborate with stakeholders to quantify TPCR exposure.

Analysis


Risk Officer prepares Credit Approval Memorandum (CA).

Based on this analysis an approval decision is provided. If Third Party Credit Risk Group objects, the supplier cannot be engaged for this relationship.

Approval


CA is approved in the amount known as the TPCR Management Action Trigger (MAT), per the approval grid in the Wholesale Credit Risk Due Diligence and Rules Governing Extension of Credit Standard, “Grid 2.1”.

Reporting


The decision is communicated to stakeholders and reflected in the Due Diligence Scorecard or Ongoing Monitoring Tool, as appropriate.

TPCR MAT is reported in Citi Risk Systems.

Common Elements to TPCRG Analysis

There are five common elements to the analysis conducted by the TPCRG.

Select the forward arrow to learn more.

 

Banking Relationship

TPCRG will access Citi’s Risk systems to determine if there is an ICG or commercial relationship with a supplier. TPCRG ensures lending teams are aware of Citi’s supplier relationships with a given company, and vice versa.

 

Confirmation of Spend Amount

TPCRG reviews/challenges the Last Twelve Month (LTM) spend quantification prepared by TPU. Total spend determines the level of Risk approval required.

TPCRG compares the total proposed spend to the total revenue size of the supplier to identify concentrations and determine if contract size is appropriate.

 

Contract Analysis

TPCRG performs a detailed analysis of the Master Agreement(s) and relevant child Work Orders for in-scope relationships. The reviews ensure the absence/inclusion of certain clauses that either:

  1. Don’t expose Citi to risk or
  2. Mitigate specific risks that have been identified.

These clauses include Termination Rights, Audit Rights, Subcontractor restrictions, Financial Reporting, Guarantees, or Third Party Credit Risk.

 

Financial Review/Risk Rating

The analysis and initial financial risk rating are completed by the First Line of Defense and challenged by TPCRG when appropriate. TPCRG reviews a detailed analysis of the Third Party’s historical financial statements, focusing on items such as key ratios, leverage, and forward looking cash flow analysis. The historical financial statements collected on a supplier are input into a Citi risk modeling system. The system provides a financial risk rating, which is one of the factors considered in the Financial Capacity to Perform rating categories of: Strong, Adequate, Marginal, or Poor. A public debt rating is also often reviewed.

 

Exit Strategy Plan Review

An Exit Strategy Plan (ESP), required for all Tier 1–3 relationships, defines alternatives if a Third Party fails. The ESP provides a framework and timeframes to ensure continuity of services should a third party be unable to provide products/services.

During TPCRG’s risk assessment process, analysts check the feasibility of the ESP and communicate potential issues to the stakeholders.

 
 

Other Considerations

In addition to common elements we just discussed like Contract Analysis and Risk Rating, there are other considerations within third party credit risk.

Select each icon to learn more.

Operational Risk
 

Operational Risk


If TPCRG identifies a potentially elevated level of Operational Risk, partners in Operational Risk Management (ORM) will be engaged to review.

For example:
A supplier managed a rebate program for Cards. The contract called for Citi to pre-fund rebates, and the Business was advancing the monies to the supplier without any controls or provisions to protect the cash (it was just sitting in the supplier’s operating account). ORM helped the Business design a less risky process for disbursing funds.

Performance Risk
 

Performance Risk


A holistic review of how potential supplier failure would impact Citi’s ability to deliver services to our customers.

Reputation Risk
 

Reputation Risk


Also called “Headline Risk.” Could a supplier’s failure have negative repercussions for Citi’s reputation?

For example:
Suppliers are chosen as Trustees of Citi pension programs. Although Citi has no legal liability should a trustee misappropriate pension funds, it could damage Citi’s reputation if a Trustee with previous legal issues were engaged.

Check Your Understanding

Select any common elements to the analysis conducted by TPCRG.

Select all that apply and then select Submit.

Submit

Coming Next

You’ve learned all about the role of the Third Party Credit Risk Group. Before taking the assessment, please review the key takeaways in the conclusion that follows.

Conclusion

We’ll conclude this course by reviewing the key takeaway points:

  • The role of the Third Party Credit Risk Group (TPCRG)
  • How TPCRG interacts with Citi’s Third Party Management program
  • Roles and responsibilities of Stakeholders in the Third Party Management Process and Lines of Defense Construct
  • Analysis that Third Party Credit Risk Group (TPCRG) performs as part of the Third Party Credit Risk (TPCR) approval process

Scroll down to continue.

Key Takeaways

Let’s review the key learning points from this course.

Select each button.

 

Third Party Credit Risk (TPCR)

  • Third Party Credit Risk (TPCR) arises when there is an agreement for an External Third Party to hold, collect, prepay or settle Citi Funds that could result in potential financial loss to Citi due to third party failure or inability to perform.
    • It is the responsibility of each Citi business or global function to identify TPCR in its own organization. The TP-RAP process assists with identifying TPCR.

Third Party Management (TPM) Role

  • Third Party Management (TPM) plays an important role in managing and mitigating risks associated with Citi’s use of third parties.
    • TPCRG is one of the control groups in the TPM process.
    • TPCRG is responsible for the review/challenge of the financial analysis, credit approval process, and global portfolio management of in-scope providers of products and services to Citi.

TPM Stakeholder Roles and Responsibilities

  • TPM Stakeholders have roles and responsibilities in the TPM Lines of Defense Construct, which includes 5 levels:
    • Risk Accountable (BAOs, TPOs)
    • First Line of Defense (TPU)
    • Second Line of Defense (TPCRG)
    • Enterprise Support
    • Third Line of Defense
  • Stakeholders have responsibilities in the initial supplier selection and ongoing monitoring processes.

TPCRG Review

  • Elements of TPCRG’s review are:
    • Third Party Credit Risk Process.
    • Other common analyses include banking relationship, confirmation of spend amount, contract analysis, financial review, and exit strategy plan review.

Coming Next

Next up, there’s a five-question assessment.

Assessment Instructions

Citi uses a large number of External Third Parties to support business operations, client-facing processes and to deliver innovative products and services. Failure to assess and manage the level of risk and complexity of these Third Party relationships may lead to:

Select all that apply and then select Submit.

Submit

In the Lines of Defense Construct, which level is used to describe any role and responsibility that generates risk?

Select the best response and then select Submit.

Submit

Third Party Credit Risk arises in which of these situations?

Select all that apply and then select Submit.

Submit

In the Third Party Risk Assessment Process (TP-RAP), which of these requirements for products/services will trigger TPCR?

Select all that apply and then select Submit.

Submit

Which of these roles are designated as risk accountable?

Select the best response and then select Submit.

Submit

As part of Second Line of Defense, TPCRG is responsible for

Select the best response and then select Submit.

Submit

In the Third Party selection due diligence and ongoing monitoring processes, which unit is responsible for completing the initial financial analysis of Third Parties?

Select the best response and then select Submit.

Submit

There are several categories of Third Party Credit Risk within Citi. Examples of this TPCR category include advancement of funds for software licensing, system maintenance or employee healthcare services.

Select the best response and then select Submit.

Submit

Financial Risk Ratings are:

Select the best response and then select Submit.

Submit

Which of the following questions on the Third Party Risk Assessment Process (TP-RAP) or Material Change Identification and Attestation (MCIA) form are asked to detect the presence of Third Party Credit Risk (TPCR)?

Select all that apply and then select Submit.

Submit

Assessment Results

Copyright © Citi and/or its affiliates. All rights reserved.

Scroll down to view the topic list, then select the Welcome topic to begin. Select the Home button at any time to return to this menu.

This course is divided into six topics and an end-of-course assessment. After completing the training content, you must score 80% or higher in the assessment to receive credit for this course.

A list of useful links is available at any time by selecting the Resources button.

If you are accessing the course from a personal device directly over the Internet (outside of the Citi network), some links may not work if they link to content within Citi’s network. This will not impact your ability to complete the course.

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If you are a non-employee, you hereby acknowledge that:

  1. you do not hold an employment relationship with Citigroup, Inc., Citibank, N.A., or any of Citi’s related parties or affiliates (jointly “Citi”);
    and
  2. in your capacity as a non-employee, this course is intended for the limited purpose of training yourself;
    and
  3. nothing contained in the training and/or its content, nor you receiving or not receiving the training, should be construed by you or anyone else to infer or imply any type of employment relationship between Citi or any of its related parties or affiliates and yourself

Topics

 

Welcome

Third Party Credit Risk Group

Third Party Management

Stakeholder Roles and Responsibilities

Third Party Credit Risk Group (TPCRG) in Action

Conclusion

Assessment

Menu
Home
Third Party Credit Risk Fundamentals
Welcome
Third Party Credit Risk Group
Third Party Management
Stakeholder Roles and Responsibilities
Third Party Credit Risk Group (TPCRG) in Action
Conclusion
Assessment