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Article
Banks Face a New Vendor Risk Crisis as AI Outpaces Contracts
Elizabeth Blosh-Myers, VP Third-Party and Model Risk Management at Thread Bank, warns that traditional vendor contracts are struggling to address escalating cyber threats, AI autonomy and supplier concentration. She explains why stronger accountability, continuous monitoring and more adaptable contractual protections will become essential as banks confront increasingly interconnected third-party risks through 2030.
Nov 13, 2026
Elizabeth Blosh-Myers, VP/Director Third Party Risk Management , Thread Bank
Tags:
Vendor and Third Party Risk
The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization
- Vendor contracts must establish practical cyber accountability and enforceable incident notification requirements
- Regulators increasingly expect
evidence of continuous oversight and operational resilience
- Subcontractor dependencies
create significant hidden cyber and concentration risks
- AI contracts must address data
usage, model validation, human oversight and liability
- Dynamic contracting could link
monitoring results to automated remediation triggers
- Supplier concentration and
autonomous AI will reshape third-party risk through 2030
- Banks must strengthen exit
planning and protections against regulatory and ownership changes
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