Vendor Due Diligence & Effective Third Party Contract Management (08/19/2014-08/19/2014)
Examination and audit staff are continuing to focus their attention on third party relationships. Recent headlines have been filled with high profile failures related to indirect lending, member business services, and participation loans. This new and exclusive webinar will help you examine the regulatory requirements for vendor due diligence, and review the details of creating an effective vendor management program.
Background 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
Location: Your office or conference room
Prerequisites: 1-2 years of banking experience
Speaker: David Reed
Course Level: Intermediate
Duration: 90 minutes
CPE Credits: 1.0 Credit hour