Venue
Virtual

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Event Date Thu Aug 12 EDT - Fri Aug 13 EDT (3 months ago)
Location Virtual
Region All
Details

This will assist community banks in navigating the critical considerations needed to effectively implement a sound vendor management program.
Community banks may outsource a service, but they cannot outsource the responsibility. In a financial environment wrought with strong enforcement actions, rising regulatory expectations, and massive data breaches, community banks must understand and manage a secure network of relationships to ensure customer data, bank transactions, business activity, and shareholders are protected.

Relationships with third-party vendors are commonplace and many provide a strategic advantage; however, the rewards aren’t without risk to financial institutions. Intense regulatory scrutiny and variations in third-party service application are challenging the risk management practices utilized by today’s community banks.

Participants will examine the vendor management lifecycle and discuss:
• Effective strategies for vendor selection.
• Evaluating risk associated with service providers.
• Guidelines for structuring your vendor agreements.
• Methods for monitoring and measuring success of your third-party vendors.

Throughout the practical advice and guidance will be shared including:
• How to remove the guesswork related to employee responsibility and vendor management.
• Key compliance considerations to monitor service provider relationships.
• New policy, procedures, and retention strategies.

Speakers

2021 Speakers

INSTRUCTORS:

Mackenzie Rooney
Manager, CliftonLarsonAllen

Barbie Housewright
Manager, CLA