1. Vendor Management: How To Assess The Risks of Third-Party Relationships And Stay In Compliance

Vendor Management: How To Assess The Risks of Third-Party Relationships And Stay In Compliance

$99.00
Risk management expert Gary Deutsch will help you prepare a comprehensive assessment. You will learn how to foresee problems, control vendors, and protect your institution. Plus, we will share sample questionnaires.
Event ID: 2167649
Recording: Unable to attend? A recording will be available after the presentation.
Date: Recorded on 2/18/2020
Duration: Scheduled for 90 minutes including question and answer period.
Presenter: Gary Deutsch, CPA, president, BRT Publications, LLC
Credits: Live webinar approved for 1.5 NASBA credit hours (Management Services)

Vendor Management: How To Assess The Risks of Third-Party Relationships And Stay In Compliance

The expansion of third-party relationships with technology vendors has created a need for increased comprehensive risk assessment. You must develop an approach that covers planning, due diligence, partner selection, contract negotiations, ongoing monitoring, and the termination of relationships.

Banking regulators have increased their scrutiny of the risk management of third-party relationships. Failures to perform and data security breaches can cause significant negative customer impacts.

  • What should your risk assessment approach for third parties include?
  • What significant bank functions require special attention?
  • What steps should you take if a third-party relationship fails?
  • How can you create an accurate inventory of third-party relationships?
  • What sources of information can you use to manage third-party risks?
  • How can you evaluate if your processes and controls are adequate?

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