Navigating Vendor Risk
Wednesday, July 26, 2017 | 2:00 p.m. EST
Presenters: Linda Straub-Jones and Abby Progin
Are you aware that your financial institution is responsible for knowing precisely what happens when any sort of member or customer information flows through vendors, or what happens when vendors have access to your account holder data?
The CFPB and the NCUA have rules regarding evaluation and audit of vendors, and it’s your institution’s responsibility to understand and enforce these rules. During this webinar attendees will gain insight into the importance of having policies and procedures in place relating to your vendor relationships, so join Temenos and LexisNexis Risk Solutions as we discuss vendor due diligence and management. Key topics of this webinar include:
- An assessment of the CFPB's Bulletin 2012-03 relating to vendors and the CFPB’s expectations on how you should manage those relationships.
- A review of the NCUA's Third Party Vendor Supervisory Letter, and the NCUA’s expectations on initial and ongoing review of vendors.
- Best practices on how to determine which of your vendors need to be reviewed and/or audited.
- A checklist from the NCUA as to what is needed to complete a thorough vendor analysis and audit.