SSAE 16 Report on Controls at a Service Organization: What You Need to Know to Comply With Regulations (08/26/2014-08/26/2014)

Seats Available: 983

  • Class: SSAE 16 Report on Controls at a Service Organization: What You Need to Know to Comply With Regulations (08/26/2014-08/26/2014)
  • Date: 08/26/2014-08/26/2014
  • Time: 12:00pm EST- 1:30pm EST
  • Class Type: Virtual Training (Alternate)
  • Registration End: 08/25/2014

Description

Financial institutions often rely on outsourced vendors for mission-critical products and services and the banking regulators are very concerned that institutions may not be properly overseeing these relationships. This webinar is designed to assist you with using SSAE 16 reports as part of your risk management and internal audit efforts.
Background 
Vendor services range from loan and deposit processing to obtaining appraisals from appraisal management companies.  Some of these vendors integrate directly with the institution’s transaction processing, while others are used in developing accounting estimates and decision-making processes.  Since vendor operations cannot be controlled directly, institutions need to rely on third-party SSAE 16 audits to have some assurance that the vendor’s operations will not adversely affect the institution’s operations and financial results in compliance with regulatory guidance. 
 
The risks of inadequate oversight can be significant – there can be insufficient vendor support, compliance gaps, and significant internal control weaknesses.  Often these risks are hidden from institutions and only surface when it’s too late. That’s why the regulators are concerned about how you manage and monitor these relationships. Understanding how to use SSAE 16 reports will help you mitigate outsourced vendor relationship risks.
 
Agenda
This webinar is designed to assist you with using SSAE 16 reports as part of your risk management and internal audit efforts. Agenda items include:
• Identifying when you need a vendor’s SSAE 16 report to comply with regulatory guidance
• Evaluating what type of report is needed – you may need more than one
• Recognizing what to look for in the reports and how to use that information to mitigate risks
• Understanding when changes to your operations may be warranted as a result of the reports
• Determining if an Agreed Upon Procedures report may be a suitable alternative to a SSAE 16 report
 
Benefits
Participate so you can:
• Protect your institution from regulatory compliance risks
• Identify gaps in vendor due diligence
• Improve audit results
 
Who Should Attend
• Risk Managers
• Internal auditors
• Managers responsible for vendor relationships
 
Testimonials
• Training was on topic and enough in plain English for a beginner to understand.
• This was a very informative training with a lot of good insights.
• Very Good
• It was worth the money and I learned about the SOC2 and SOC3 reports which I was not familiar with.
 

CPE Information

LexisNexis is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.
Price: $299.00 Add To Cart{"prodid": "13935","type":"class","course":"1009"}

Class Information

    Location: Your office or conference room
    Prerequisites: 1-2 years of banking experience
    Speaker: Gary Deutsch
    Course Level: Intermediate
    Duration: 90 minutes
    CPE Credits: 1.0 Credit hour

Prerequisites