Best practices dictate that the board must remain vigilant about hazards posed by outsourcing functions to third parties – or risk significant financial and reputational harm to their financial institution. This session will provide an overview of the key components of a comprehensive vendor management program and the vital role senior management and the board must play. You’ll learn what board members need to understand about third-party risk and what should be expected regarding regular reporting and direct oversight. From risk assessments, to due diligence, to contract management, this webinar will address emerging trends in third-party risk and how they relate to the fundamentals. In addition, you will learn about regulatory guidance, recent enforcement actions, and new areas of focus that can be third-party related – particularly UDAAP.
Recorded Thursday, May 11, 2017
Continuing Education: Attendance verification for CE credits upon request
- What board members need to understand about third-party risk
- Key components of a comprehensive vendor management program
- Regulatory guidance and recent enforcement actions
- Board’s role in ensuring compliance
- New areas of focus that can be third-party related – particularly UDAAP and cyber security
- Why this topic should remain top-of-mind at every board meeting
- TAKE-AWAY TOOLKIT
- Board-member-specific third-party risk cheat sheet
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is specifically designed for board members and directors.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.