Growing Scope of Vendor Management: Business Continuity, Cyber Security, Contract Negotiation & More Webinar training seminars presented by Online Compliance Panel
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Regulatory oversight and scrutiny of financial institutions' third-party risk management practices have increased considerably. There is growing pressure on the risk management structure at every institution. Whether it is heightened focus on cyber security, the need for more rigorous monitoring, or the basics of good vendor management, how can a responsible compliance manager keep up? This webinar will provide an overview of the regulations, real-life examiner expectations and best practices from a vendor management perspective. (see
full course description)
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Syllabus:
Growing Scope of Vendor Management: Business Continuity, Cyber Security, Contract Negotiation & More
Objectives of the Presentation
Who are the Third Party Vendors
Why it is critical to prepare a Risk Assessment on the third parties
An overview of the potential risks a third party vendor may impose on your firm
What those risks could mean for the end-clients, the investors
Ways to work with the third party vendors to help mitigate the risks
Types of questions to ask the third party vendors in order to create the risk assessment
Rules, Regulations and best practices concerning third party risk assessment
Determination of the third parties
The questions to ask the third parties
Best practices for monitoring the progress of the assessment
Suggestions on the documentation of the assessment?
Educating the existing third party vendors on why this type of due diligence is being conducted
Creating policy surrounding on boarding new third party vendors
How to select a background firm and audit your current screening practices
Why Should you Attend
Many of the most recent cyber hacking incidents occurred through the subject´s third party vendor. This session will focus on how to conduct a risk assessment on those third party managers as well as discuss the regulations and how they apply to vendor management. We will address who your third parties are and how to create your third party vendor management policies.
Areas Covered
Basic principles of vendor management
Review of regulatory authorities´ guidance
Common pitfalls and how to avoid them
Framework for creating a manageable and scalable third-party risk management program
Seminar Summary:
Regulatory oversight and scrutiny of financial institutions' third-party risk management practices have increased considerably. There is growing pressure on the risk management structure at every institution. Whether it is heightened focus on cyber security, the need for more rigorous monitoring, or the basics of good vendor management, how can a responsible compliance manager keep up? This webinar will provide an overview of the regulations, real-life examiner expectations and best practices from a vendor management perspective. (see
full course description)