Date Format

Date Format

Hi

I am looking at the best way to chagne a date field that comes in via a third party (Thirdparty_DOB) in the following format in the contacts module YYYY-MM-DD.

I want to change this to our system format of DD/MM/YYYY and am trying to figure out if a formula field or function would be the better option to transfer this date into the DOB field

Ive tried a few ways but its not playing ball! 

Thanks

A