Every time you utilize a critical vendor you are handing that vendor the keys to your kingdom. What could possibly go wrong, you ask? Everything!
Vendor management continues to be a high priority operational and regulatory issue because every financial institution entrusts some of its most sensitive information, financial resources and core business processes to third party vendors. If something goes wrong with a third party relationship, we all know who will get the blame: You! On top of that, consider how much of your budget is paid directly to vendors. Make sure your institution is getting the most from your vendors while satisfying the increased examination scrutiny.
From selecting the best available vendor to identifying compliance issues to getting the most return from your investment this presentation examines the regulatory requirements for managing third party relationships and the operational details of creating an effective vendor management program.
• Understanding the essential elements of vendor due diligence
• Maximizing the return on outsourced relationships
• Managing compliance risks – Fair Lending to Credit Reports
• Creating solid staff oversight and quality control
• Leveraging regulatory guidance
Following this event, you’ll be better prepared to:
• Conduct a strategic review of your Vendor Management function
• Recognize emerging compliance risks
• Increase vendor accountability AND production
• Track the bottom line return on vendors
Who Should Attend
• Compliance Staff
• Financial Staff
• Accounting Staff
• Accounts Receivable
• Department Managers
• Anyone involved in the vendor management process
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.