How to Manage Third Party Vendors
Learn how to limit risk from vendors.
Select and manage third-party service providers effectively.
Your institution likely has relationships with a wide range of third-party providers. They may provide remote deposit services, host your mortgage application website, transport cash, store security camera footage, or provide dozens of additional services.
These vendors bring new layers of risk. They could have software security flaws, incompetent management, unscrupulous employees, or poor accounting practices. You need to understand all the risks to select vendors wisely, negotiate protective contracts, monitor performance, and limit damages.
WHAT YOU'LL LEARN
Just a sampling of what this webinar will cover:
- Why is reliance on third parties becoming increasingly necessary?
- What methodologies should you use to select service providers?
- What oversight, monitoring, and quality control processes should you implement?
- How can you mitigate risks through controls?
- Why and when should you terminate a service provider?
BankersWeb.com Quality Commitment
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