1. How to Manage Third Party Vendors

How to Manage Third Party Vendors

$99.00
Event ID: 2141472
Recording: Unable to attend? A recording will be available after the presentation.
Date: Recorded on 1/7/2020
Duration: Scheduled for 90 minutes including question and answer period.
Presenter: Daniel Clark, Author
Credits: Live webinar approved for 1.5 NASBA credit hours (Management Services)

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?

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