Vendor Management Best Practices-How to Address the New Challenges & Increased Regulatory Scrutiny

All FFIEC regulatory updates issued in the last two years either directly or indirectly relate to vendor management and outsourcing. In addition, social media, cloud computing and managing payment service providers all have vendor management as the common link. Clearly this is an area of increased regulatory scrutiny, and will continue to be so for the foreseeable future.  How do the new expectations differ from current practices, and what steps do financial institutions need to take now?

What You Will Learn:

  • Vendor or service provider...why does it matter?
  • Expanding the risk assessment
  • The details of due diligence
  • Contracts - the single most important control
  • The new SOC reports - Understanding the differences
  • Vendor regulatory exams - The new regulatory requirement
  • Attendees will receive white papers on 5 Keys to Understanding a SOC 2 Reports, and 7 Cloud Vendor Deal Breakers for Financial Institutions
  • Attendees will also receive a vendor due diligence checklist and a vendor contracts checklist

Who Should Attend?

Risk managers, Internal auditors, CIO, ISO, Compliance Officers, those who are involved with vendor management at their institution.