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
Attendance certificate provided to self-report CE credits.
- 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.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.